BABUSTAX

Chapter 2 - Gross Estate

4/21/2022

Problems P2.1 - 2.4

Page 65 - 67

Problem 2.1
Pr Determine the correct GE assuming the decedent was:
Resident Citizen Resident Alien NRA, with reciprocity NRA, without reciprocity
8,000,000 8,000,000 8,000,000 8,000,000
5,000,000 5,000,000 3,000,000 3,000,000
3,000,000 3,000,000 2,000,000
2,000,000 2,000,000 500,000
500,000 500,000 300,000
300,000 300,000
200,000 200,000 200,000
300,000 300,000 300,000
- -
Total Gross
Estate 19,300,000 19,300,000 11,000,000 14,300,000

Problem 2.2
Determine the GE of the decedent
Juan 25,000,000
Pedro 18,000,000
Maria 15,000,000
Total Gross Estate 58,000,000

Problem 2.3
Determine the Gross estate of Pedro
Unlisted common s 1,375,000 Book value, 13.75
Listed common sto 1,500,000 Average value, 15
Listed common sto 1,200,000 Average value, 12
Total Gross estate 4,075,000

Problem 2.4
Determine the value of the property in the GE
1. 230,000
2. 1,100,000
3. 0
4. 0
5. 1,150,000