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

question 2

Multiple Choice

Following are the fair market values of Wilma's assets at her date of death: $$\begin{array} { | l | r | } \hline \text { Personal effects and jewelry } & \$ 150,000 \\\hline \text { Land which Wilma bought and held as a joint } \\\text { tenant with right of survivorship with her sister } & 800,000 \\\hline\end{array}$$ The executor of Wilma's estate did not elect the alternate valuation date. The amount includible in W gross estate is

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

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