Reggie is one of the income beneficiaries of the LaQuanda Estate,which is subject to a 35% marginal Federal estate tax rate,a 35% marginal Federal income tax rate,and a 10% marginal state income tax rate.This year,Reggie received all of the sales commissions that were earned and payable to Lulu LaQuanda (cash basis) at her death.Compute Reggie's § 691(c) deduction for the current year,given the following data. Sales commissions receivable $50,000 Deferred gain on installment sale,three payments to be received,starting next year 20,000

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The Answer of Reggie is one of the income beneficiaries of the LaQuanda Estate,which is subject to a 35% marginal Federal estate tax rate,a 35% marginal Federal income tax rate,and a 10% marginal state income tax rate.This year,Reggie received all of the sales commissions that were earned and payable to Lulu LaQuanda (cash basis) at her death.Compute Reggie's § 691(c) deduction for the current year,given the following data. Sales commissions receivable $50,000 Deferred gain on installment sale,three payments to be received,starting next year 20,000

Reggie Is One of the Income Beneficiaries of the LaQuanda