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American College HS330 Exam - Topic 1 Question 59 Discussion

Actual exam question for American College's HS330 exam
Question #: 59
Topic #: 1
[All HS330 Questions]

A man recently died with only probate assets. Under the terms of his will, he left his entire probate estate outright to his wife. The following are relevant facts about the estate:

Gross estate $1,700,000

Estate administration expenses 30,000

Debts of decedent 65,000

Allowable funeral expenses 5,000

The amount of the allowable marital deduction is

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Suggested Answer: A

by Lashawnda at Oct 14, 2022, 11:04 PM

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Tawna
4 months ago
I disagree, it should be $1,600,000 based on the calculations.
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Craig
4 months ago
Really? I thought it would be higher!
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Alida
4 months ago
I think the marital deduction is $1,665,000.
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Brande
4 months ago
Don't forget the debts and expenses!
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Basilia
4 months ago
The gross estate is $1,700,000.
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Laurene
5 months ago
I vaguely recall that the marital deduction is usually the entire amount left to the spouse, but we have to account for the debts and expenses first. I’m leaning towards option C, but I could be wrong.
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Deonna
5 months ago
I’m a bit confused about how to approach the calculation. Do we subtract all the debts and expenses from the gross estate before determining the marital deduction?
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Dierdre
5 months ago
I think we practiced a similar question where we had to calculate the marital deduction after deducting debts and expenses. I feel like the answer might be around $1,665,000, but I’m not completely confident.
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Raelene
5 months ago
I remember we discussed how the marital deduction is typically the value of the assets left to the spouse, but I’m not sure how to subtract the debts and expenses correctly.
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Stevie
5 months ago
Okay, let me think this through. The question is asking about revenues that were recorded but didn't actually happen. That sounds like it's referring to fictitious or fabricated revenues, so I'll go with A.
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Elza
5 months ago
I think the first thing I'd change is the default passwords. That's a pretty basic security step to take.
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Bobbie
5 months ago
I'm not entirely sure about this one. The options seem pretty straightforward, but I want to make sure I'm not missing anything. I'll take my time and try to reason through it.
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