Which, If Any, of the Following Statements Correctly Reflects the Rules

question 16

Multiple Choice

Which, if any, of the following statements correctly reflects the rules applicable to the alternate valuation date ?

• A)The election is made by the executor.
• B)Can be elected even though no estate tax return has to be filed.
• C)Can be elected only if it reduces the amount of the gross estate or reduces the estate tax liability.
• D)Its election does not affect the income tax basis of property included in the gross estate.
• E)None of the above.

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Definitions:

Deescalate

The process of reducing the intensity of a conflict or potentially volatile situation, aiming to prevent it from worsening or leading to aggressive outcomes.

Groupthink

A psychological phenomenon where the desire for group consensus overrides people's common sense or logical reasoning.

Devil's Advocacy

A technique used in decision making and problem solving that involves taking an opposing viewpoint or position to uncover flaws or test the validity of a proposal.

Dialectical Inquiry

A debate between two opposing sets of recommendations.