Taxable Estate Practice Test

Taylor created a trust, transferred property to this trust, and retained certain interests. For income tax purposes, Taylor was treated as the owner of the trust. Taylor has created which of the following types of trusts?

Under the provisions of a decedent’s will, the following cash disbursements were made by the estate’s executor:

I. A charitable bequest to the American Red Cross
II. Payment of the decedent’s funeral expenses

What deduction(s) is (are) allowable in determining the decedent’s taxable estate?