The alternate valuation date can be elected for estate tax purposes only if the election
A)increases the value of the gross estate.
B)decreases the value of the gross estate.
C)decreases the estate tax liability (after reduction for tax credits).
D)Both B and C are required.

Question

Quizplus · Accepted Answer

The alternate valuation date can be elected for estate tax purposes only if it decreases the value of the gross estate and decreases the estate tax liability (after reduction for tax credits). If the alternate valuation date increases the value of the gross estate, then it cannot be elected for estate tax purposes.

The Alternate Valuation Date Can Be Elected for Estate Tax