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Asset Value
5422.033 shares of Eli Lilly $356,160
3400 shares of Eli Lilly 223,338
Merrill Lynch CMA account 200,943
189.99 shares RJR 5,867
Rings & misc. household items 6,500
Intangibles tax refunds 6,811
22 shares Ameritech 1,225
Exdividend 10
Total 800,854
The decedent's estate filed a Form 706, United States
Estate (and Generation-Skipping transfer) Tax Return, on
February 3, 1997, approximately 1 month after the due date
of the return. It paid estate tax of $254,051, the net
estate tax reported on the return. Among other deductions,
the return claimed a charitable deduction for a gift or
bequest of $1,346,060 to the Millbrook United Methodist
Church.
On or about July 22, 1997, the estate filed an
amended Form 706 that reported net estate tax of $239,165.
The amended return reflected reductions in the fair market
value of the real estate and stocks and bonds reported
on the original return. It also reduced the charitable
deduction claimed. Set out below is a schedule that
compares the assets and deductions reported on the
original and amended estate tax returns:
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Last modified: May 25, 2011