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sesenic [268]
3 years ago
7

As sole heir, Gascon receives all of Lafayette's property (adjusted basis of $15,700,000 and fair market value of $16,900,500).

Six months after Lafayette's death in 2019, the fair market value is $16,500,100. a. Can the executor of Lafayette's estate elect the alternate valuation date and amount?
Business
1 answer:
madreJ [45]3 years ago
6 0

Answer:

No

Explanation:

Fair market value of Mary's property = $16,900,000. Six months after Mary's death in 2018, the fair market value is = $16,900,000. Fair value has increased on alternate valuation date. The executor of Mary's estate cannot elect the alternate valuation date and amount as the election does not result in reduction in fair value of gross estate.

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