In order for an executor of an estate to elect the alternate valuation date, an estate tax return must be filed and the alternate valuation must be less than the FMV as of the decedent's death.

Question

Quizplus · Accepted Answer

This is true. The alternate valuation date is an option available to executors of an estate where the value of the assets is determined 6 months after the date of death. In order to elect this option, an estate tax return must be filed and the value of the assets on the alternate valuation date must be less than the FMV as of the decedent's death. This option can be beneficial if the assets have decreased in value since the date of death, as it can result in lower estate taxes.

In Order for an Executor of an Estate to Elect