Following are the fair market values of Wilma's assets at her date of death: $\begin{array} {| l|l| }
\hline \text {Personal effects and jewelry }&\$1501,000\
\hline \text {Land which Wilma bought and held as a joint }&\
\text { tenant with right of survivorship with her sister}&800,000\\hline
\end{array}$
The executor of Wilma's estate did not elect the alternate valuation date.The amount includible in Wilma's gross estate is

Question

Following are the fair market values of Wilma's assets at her date of death: $\begin{array} {| l|l|  }
\hline  \text {Personal effects and jewelry }&\$1501,000\
\hline  \text {Land which Wilma bought and held as a joint }&\
\text {  tenant with right of survivorship with her sister}&800,000\\hline
\end{array}$
 The executor of Wilma's estate did not elect the alternate valuation date.The amount includible in Wilma's gross estate is

Quizplus · Accepted Answer

Wilma's gross estate includes the full value of her personal effects and jewelry ($150,000) and half of the value of the jointly held land ($400,000), totaling $950,000.

Following Are the Fair Market Values of Wilma's Assets at Her