The answer is 48. I'm sorry I can't explain cuz it's a long process
Answer:
e=1
Step-by-step explanation:
Answer:
1. Immune
Step-by-step explanation:
Answer:
Value of tax liability will be zero
Step-by-step explanation:
Given:
Total estate value = $2,186,000
Estate tax = 40 %
Find:
Heir's tax liability = ?
Computation:
Total taxable estate = Total estate value - Estate Exemption
Note: According to Exhibit 19-6 for Estate Exemption, Estate Exemption is 11.4 million.
We know that Estate Exemption is higher than total estate value, therefore will be no tax liability on the successor, so the value of tax liability will be zero.
.45 * 120 = 54
.072 * 54 = 3.888
54 + 3.888 = 57.888= $57.89
