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2024 update|TAX3703 - Taxation of Estates Taxation: | latest |COMPREHENSIVE MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS | GET IT 100% ACCURATE!!$15.99
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10/29/24, 7:16 PM 2024 update|TAX3703 - Taxation of Estates Taxation: |2024-2025 latest |COMPREHENSIVE MOST TESTED QUESTIONS A…
2024 update|TAX3703 - Taxation of Estates
Taxation: |2024-2025 latest |COMPREHENSIVE
MOST TESTED QUESTIONS AND VERIFIED
SOLUTIONS | GET IT 100% ACCURATE!!
Terms in this set (38)
1. It refers to a mode of b. Succesion
transferring & acquiring
properties left by the
decedent.
a. Estate transfer c.
Donation
b. Succession d.
Execution of a will
The property, rights & c. Estate
obligations of a person
which are not
extinguished by his death
& those which have
accrued thereto since the
opening of succession.
a. Inheritance c. Estate
b. Capital d. Devisee
, 10/29/24, 7:16 PM 2024 update|TAX3703 - Taxation of Estates Taxation: |2024-2025 latest |COMPREHENSIVE MOST TESTED QUESTIONS A…
3. The estate tax accrues c. The death of the decedent
from the moment of:
a. The fixing of notice of
death
b. Expiration of a months
after death
c. The death of the
decedent
d. The filing of estate tax
return
The gift tax paid on a c. Shall form as a tax credit to be deducted from the
donation mortis causa, if estate tax due
any:
a. Exempts the property
from estate tax.
b. Has no effect since the
gift will be subject to
another gift tax.
c. Shall form as a tax
credit to be deducted
from the estate tax due.
d. Is invalid & the tax will
not be credited at all
5. Which shall not form c. Transfer passing special power of appointment
part of the gross estate
of a decedent:
a. Intangible personal
property of non-resident
alien decedent without
reciprocity law
b. Revocable transfer
c. Transfer passing
special power of
appointment
d. Life insurance where
the executor is the
beneficiary & it is
irrevocable
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