Following Are the Fair Market Values of Wilma's Assets at Her

question 98

Multiple Choice

Following are the fair market values of Wilma's assets at her date of death: $\begin{array} {| l|l| }\hline \text {Personal effects and jewelry }&\$1501,000\\\hline \text {Land which Wilma bought and held as a joint }&\\\text { tenant with right of survivorship with her sister}&800,000\\\hline\end{array}$
The executor of Wilma's estate did not elect the alternate valuation date.The amount includible in Wilma's gross estate is

• A)$150,000.
• B)$550,000.
• C)$800,000.
• D)$950,000.

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