All of the following are allowable deductions used in determining taxable estate EXCEPT

A. funeral expenses.

B.
debts owed at time of death.

C. gift tax credit used during life.

D. the value of property that passes from the deceased to the surviving spouse.




Answer: B

Taking a long position on an option - that is, buying it - incurs a premium; not exercising the option means losing that money.



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