Identify Which of the Following Statements Is False

question 93

Multiple Choice

Identify which of the following statements is false.

• A)The "blockage" regulations allow the IRS to prevent the estate's executor from electing the alternate valuation date.
• B)If the alternate valuation date is elected, changes in value that occur solely because of a "mere lapse of time" usually are to be ignored.
• C)The alternate valuation date can be elected for estate tax purposes only if the election decreases the value of the gross estate and estate tax liability (after reduction for credits).
• D)If property is sold within 6 months of the date of death, the alternative valuation date is the date of sale.

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Definitions:

Capital

Financial assets or the value of assets owned by a business, used in producing goods or services or invested to generate income.