Question

Which of the following are deducted from the gross estate to achieve the taxable estate? (Check all that apply.)

a. Funeral expenses
b. Charitable deductions
c. Debts and mortgages
d. Medical expenses
e. Administrative expenses

Answer 1

Funeral expenses, charitable deductions, debts and mortgages, medical expenses, and administrative expenses are deducted from the gross estate to arrive at the taxable estate.

Step-by-step explanation:

The components that are deducted from the gross estate to achieve the taxable estate include funeral expenses, charitable deductions, debts and mortgages, medical expenses, and administrative expenses. These deductions ensure that the taxable estate reflects the net value of the estate after fulfilling certain obligations and contributions to society, such as charitable giving.