Which of the Following Statements Is True Concerning the Election

question 41

Multiple Choice

Which of the following statements is true concerning the election of the alternate valuation date?

• A)Only the properties that have decreased in value are valued on the alternate date.
• B)All of the estate property is revalued on the alternative date, whether sold, distributed or remaining in the estate.
• C)Property distributed is revalued while property sold is not.
• D)The alternate date can only be used if the revaluation results in a lower total gross estate and lower estate taxes.

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Definitions:

Depreciation Method

A systematic approach to allocating the cost of a tangible asset over its useful life.