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

question 64

Multiple Choice

Following are the fair market values of Wilma's assets at her date of death: $\begin{array}{|l|l|}\hline \text { Personal effects and jewelry }&\$150,000\\\hline \begin{array}{ll}\text { Land which Wilma bought and held as a joint }\\\text {tenant with right of survivorship with her sister }\\\end{array}&800,000\\\hline \end{array}$
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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Definitions:

Ecosystem

A biological community of interacting organisms and their physical environment, functioning as a unit.

Square Metre

Square metre is a unit of area measurement in the metric system, symbolized as m², defining the area of a square whose sides measure exactly one metre.

Mature Soil

Soil that has developed layers or horizons, through the processes of soil formation, enriched in minerals and organic matter.

Zones

Specific areas or regions defined by particular characteristics or for specific purposes, such as climatic zones determined by temperature and precipitation patterns.