In which,if any,of the following independent situations can the alternate valuation date be elected?

Question

Quizplus · Accepted Answer

To elect the alternate valuation date, the fair market value of the estate must be lower on the alternate valuation date than on the date of the decedent's death. In option B, the total fair market value on the alternate date would be $5,180,000 ($4,800,000 + $400,000 + $380,000), which is lower than the fair market value on the date of the decedent's death ($5,300,000), making it eligible for the alternate valuation date election. Options A, C, and D do not meet this requirement. Therefore, B is the best choice.

In Which,if Any,of the Following Independent Situations Can the Alternate