What are the amount and character of Kimberly's recognized gain or loss on the distribution? What is Kimberly's remaining basis in KST after the distribution? What is KST's basis in the land Kimberly contributed after Kimberly receives this distributio

Determine the correct value for each of the following questions: 1. Assuming that a single person has made taxable lifetime gifts of $1.2 million, what is the largest taxable estate that could exist and still not incur any estate tax?

under what circumstances are property taxes and certain other expenses owed at death deductible on both form 706 and form 1041? a. the decedent's will did not provide instructions b. the amounts owed were paid by the estate, but could have been deducted on the decedent's return if they had been paid prior to death. c. the amounts owed were also simultaneously deducted on the decedent's final return. d. the amounts due were paid by the decedent prior to death but the payments were not received until after the decedent had passed away.

When a taxpayer has more than one business location, including the home, how can he determine which location is the principal place of business?