Asked by Darian Appelt on Jun 06, 2024

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Taxes imposed at death include:

A) income tax that the estate must pay on income received during estate administration.
B) federal estate tax on the transfer of property at death.
C) state inheritance tax on the privilege of an heir or beneficiary to receive the property.
D) All of these.

Federal Estate Tax

A tax levied by the federal government on the transfer of the taxable estate of a deceased person, whether transferred via will, according to state laws, or through an estate plan.

State Inheritance Tax

A tax imposed by some states on individuals who inherit property or money from someone who has died.

Estate Administration

The process of managing and distributing a deceased person's assets according to their will or the laws of intestacy.

  • Identify tax implications and responsibilities for estates and trusts.
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Cassidy GennermanJun 07, 2024
Final Answer :
D
Explanation :
All of these options are correct. A) Income tax must be paid by the estate on income received during its administration. B) Federal estate tax is imposed on the transfer of property at death. C) State inheritance tax is levied on the privilege of an heir or beneficiary to receive property.