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Ms Ocean died July 15, 2018. HER GROSS ESTATE IS LARGE ENOUGH THAT FORM 706...

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Accounting

Ms Ocean died July 15, 2018. HER GROSS ESTATE IS LARGE ENOUGH THAT FORM 706 MUST BE FILED. HER PERSONAL RESIDENCE WAS INCLUDED IN HER GROSS ESTATE which had a date of death value of 780,000. her cost in the home was 295,000. Ms. Ocean owned 120,000 to City Bank on mortgage secured by the home. The estate is liable for this debt. The home is in Ms. Ocean name with her niece digitated for transfer on death. What value should be reported on Form 706 for Ms. Ocan personal residence and on which schedule should it be reprted

390,000 Schedule E

660,000 Schedule A

660,000 Schedule E

780,000 Schedule A

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