Cannon CTFA Prep Study guides, Class notes & Summaries
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Cannon CTFA Prep Questions and Answers Already Passed
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Cannon CTFA Prep Questions and 
 
Answers Already Passed 
 
Jean and John Simmons are married and own their own home as tenants by entirety. When John 
dies the home is valued at $350,000. How much will be counted in his gross taxable estate? 
 
A. None, as it passes directly to his spouse, Jean. 
B. $175,000 - or one-half of the value 
C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a 
person residence. 
D. $350,000 - the full amount is includable. B....
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