American College Exam HS330 Topic 1 Question 110 Discussion

Actual exam question for American College's HS330 exam

Question #: 110
Topic #: 1

Items that are deductions from a decedent's gross estate in determining his adjusted gross estate include which of the following?

1. Foreign death taxes

2. State death taxes

Al only

BII only

CBoth l and II

DNeither I nor II

Show Suggested Answer

Suggested Answer: D

by Clarence at Apr 06, 2025, 03:35 AM

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Tamar

3 months ago

I wonder if the IRS has a sense of humor. They should include a question like 'What's the best way to avoid estate taxes? A) Win the lottery, B) Marry a billionaire, C) Die broke, D) All of the above.'

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Jennie

1 months ago

C) Both l and II

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Isadora

2 months ago

B) II only

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Celestine

2 months ago

A) l only

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Kindra

3 months ago

Ah, I see what they're getting at. This is a classic estate planning question. I'm going with C, both foreign and state death taxes are deductions.

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Elvera

2 months ago

I'm not sure, but I think both foreign and state death taxes are deductions.

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Alysa

2 months ago

I think it's just foreign death taxes that are deductions.

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Daniel

2 months ago

I agree, both foreign and state death taxes are deductions.

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Kayleigh

3 months ago

Wait, isn't the gross estate just the total value of the decedent's assets? How do taxes come into play here? I'm a bit confused.

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Kris

1 months ago

That makes sense now, thanks for clarifying!

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Eric

2 months ago

So, both foreign and state death taxes are included in the adjusted gross estate calculation.

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Tomoko

2 months ago

Foreign death taxes and state death taxes are deductions from the gross estate.

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Keith

2 months ago

Taxes are deducted from the gross estate to determine the adjusted gross estate.

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Corinne

3 months ago

I'm not sure, but I think the answer might be D) Neither I nor II.

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Becky

3 months ago

Hmm, I'm pretty sure both foreign and state death taxes are deductions from the gross estate. This one seems straightforward.

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Cheryll

3 months ago

Yes, that's correct. They are both deductions from the gross estate.

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Nelida

3 months ago

I think you're right, both foreign and state death taxes are deductions.

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Kimbery

3 months ago

I agree with Jess, because both foreign and state death taxes are deductions from the decedent's gross estate.

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Jess

3 months ago

I think the answer is C) Both l and II.

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