The Alternate Valuation Date for an Estate

question 69

Multiple Choice

The alternate valuation date for an estate

• A)is elected by beneficiaries
• B)should be elected if the size of the estate increases to receive higher bases
• C)values the estate six months after the date of death
• D)does not require the filing of an estate tax return to make the election

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Definitions:

Breach

The violation or infringement of a law, agreement, or code of conduct.

Secret Commission

A payment made to an agent or a representative for facilitating a transaction or agreement, typically without the knowledge of some or all of the principal parties involved.

Commission Recovery

The process by which a salesperson, agent, or broker seeks to reclaim commission fees that were not paid as agreed upon in a transaction.

Dual Agency

A real estate arrangement where one agent represents both the buyer and the seller in a transaction.