If the alternate valuation date is elected by the executor in 2014,the total basis of inherited property will be more than what it would have been if the primary valuation date and amount had been used.

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In this case,the total basis of inherited property will be less than what it would have been if the primary valuation date and amount had been used.The alternate valuation date can only be elected if the overall value of the estate is less than what it was on the date of death.

If the Alternate Valuation Date Is Elected by the Executor