The election of the alternate valuation date does not include any income earned by the property after the date the deceased owner died.

Question

Quizplus · Accepted Answer

The alternate valuation date is generally six months from the date of the decedent's death and is used by the executor to determine the value of the assets for estate tax purposes. Any income earned on the property after the decedent's death is not included in the valuation.

The Election of the Alternate Valuation Date Does Not Include