Identify which of the following statements is false.
A)The "blockage" regulations allow the IRS to prevent the estate's executor from electing the alternate valuation date.
B)If the alternate valuation date is elected, changes in value that occur solely because of a "mere lapse of time" usually are to be ignored.
C)The alternate valuation date can be elected for estate tax purposes only if the election decreases the value of the gross estate and estate tax liability (after reduction for credits).
D)If property is sold within 6 months of the date of death, the alternative valuation date is the date of sale.

Question

Quizplus · Accepted Answer

The "blockage" regulations do not prevent the estate's executor from electing the alternate valuation date; they are related to the valuation of large blocks of stock and how their value might be affected by the market.

Identify Which of the Following Statements Is False