American College Exam HS330 Topic 1 Question 27 Discussion

Actual exam question for American College's HS330 exam

Question #: 27
Topic #: 1

Income earned but unpaid at the time of a decedent's death is deemed to be income in respect of a decedent (IRD). Which of the following statements concerning IRD is (are) correct?

l. The income is taxable to the person or entity receiving it.

II. The present value of the income is includible in the decedents gross estate.

Al only

BII only

CBoth l and lI

DNeither I nor II

Show Suggested Answer

Suggested Answer: C

by Laticia at May 08, 2022, 05:53 AM

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