AICPA每日一练之REG【2016-1-19】

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Which one of the following is a valid deduction from a decedent's gross estate?

a. Expenses of administering and settling the estate.?

b. Unified credit.

c. Federal estate tax.

d. Income tax paid on income earned and received after the decedent's death.

Answer:A

Choice "a" is correct. Expenses of administering and settling the estate are valid deductions from a decedent's gross estate.

Choice "b" is incorrect. The unified credit reduces the calculated estate tax.

Choices "d" and "c" are incorrect. Estates are generally allowed the same deductions for taxes as are individuals. No deduction would be allowed to the estate for income tax paid on income in respect of a decedent or for federal estate tax.

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