Which of the following debts cannot be deducted on Form 706, Schedule K Indebtedness secured by...

Which of the following debts cannot be deducted on Form 706, Schedule K

Indebtedness secured by a mortgage on property that is part of the gross estate

Unenforceable gambling debts

loans on a life insurance policy owned by the decedent

a promissory note for stock in a car dealership

Expert Solution

Answer is: Indebtedness secured by a mortgage on property that is part of gross estate

All the above listed debts shall be deducted on Form 706, schedule K except Indebtedness secured by a mortgage on property that is part of gross estate

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ekkarill92 answered 2 years ago

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