Ted Died on May 3

question 101

Multiple Choice

Ted died on May 3. At the time of his death, he owned a beach house valued at $250,000. On June 10, the beach house was completely destroyed by a hurricane and there was no insurance coverage. If the executor elects to use the alternate valuation date, the executor will

• A)include the beach house in the gross estate at $250,000.
• B)take a casualty loss of $250,000 on the estate tax return.
• C)take a casualty loss of $250,000 on the estate's income tax return.
• D)include the beach house in the gross estate at $0.

---

Definitions:

Temperament

An individual's characteristic pattern of emotional reactions and intensity, often considered innate rather than learned.

Turner's Syndrome

A chromosomal disorder that affects only females, where one of the X chromosomes is missing or partially missing, leading to developmental problems.

Birth Trauma

Physical or psychological injury to a baby occurring during the birthing process, or emotional distress in mothers due to childbirth experiences.

Lactose Intolerance

A condition where the body lacks the enzyme lactase, leading to difficulties in digesting lactose, a sugar found in milk and dairy products.