Identify Which of the Following Statements Is False

question 93

Multiple Choice

Identify which of the following statements is false.

• A)The "blockage" regulations allow the IRS to prevent the estate's executor from electing the alternate valuation date.
• B)If the alternate valuation date is elected, changes in value that occur solely because of a "mere lapse of time" usually are to be ignored.
• C)The alternate valuation date can be elected for estate tax purposes only if the election decreases the value of the gross estate and estate tax liability (after reduction for credits).
• D)If property is sold within 6 months of the date of death, the alternative valuation date is the date of sale.

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Definitions:

Arrangement

The way in which items or affairs are organized, planned, or prepared.

Timely

Pertaining to the occurrence of actions or events at a suitable or opportune moment, ensuring relevance and effectiveness.

Informal Communication

The casual and unstructured manner of exchanging ideas and information typically outside formal communication channels.

Status Differential

The disparity in rank, power, or social standing between individuals or groups within a social hierarchy or organization.