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American College HS330 Exam - Topic 2 Question 125 Discussion

Which of the following statements concerning filing the federal estate tax return is (are) correct?1. The estate tax return must be filed within 9 months of death unless an extension is granted by the IRS.2. For persons dying this year. an estate tax return must be filed for gross estates plus adjusted taxable gifts that exceed $1.5 million.
C) Both l and II
A) l only
B) II only
D) Neither l nor ll

American College HS330 Exam - Topic 2 Question 125 Discussion

Actual exam question for American College's HS330 exam
Question #: 125
Topic #: 2
[All HS330 Questions]

Which of the following statements concerning filing the federal estate tax return is (are) correct?

1. The estate tax return must be filed within 9 months of death unless an extension is granted by the IRS.

2. For persons dying this year. an estate tax return must be filed for gross estates plus adjusted taxable gifts that exceed $1.5 million.

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Suggested Answer: C

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Ivette
2 hours ago
Wait, $1.5 million? That seems low!
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Latrice
5 days ago
I agree, but statement 2 seems off.
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Barrett
10 days ago
Statement 1 is correct, 9 months is standard.
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Chara
16 days ago
I’m pretty sure both statements are incorrect based on what I studied, but I need to double-check the current limits for this year.
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Theola
2 months ago
I practiced a similar question where the estate tax return deadline was mentioned, so I feel confident about statement 1 being correct.
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Sue
2 months ago
I think the threshold for filing is higher than $1.5 million this year, but I can't recall the exact amount.
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Shanice
2 months ago
I remember something about the 9-month deadline for filing the estate tax return, but I'm not sure if extensions are common.
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