In Which, If Any, of the Following Independent Situations Can

question 28

Multiple Choice

In which, if any, of the following independent situations can the alternate valuation date be elected? Value of Gross Estate Estate Tax Result
Date of Alternate Date of Alternate
Death Date Death Date

• A) $6,000,000 $6,100,000 $400,000 $390,000
• B) $5,900,000 $5,800,000 $400,000 $380,000
• C) $6,100,000 $6,000,000 $390,000 $400,000
• D) $6,200,000 $6,300,000 $500,000 $490,000
• E) None of the above

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Definitions:

Article 9

A section of the Uniform Commercial Code dealing with secured transactions involving personal property.

Personal Property

Any movable property that is not considered real property, such as vehicles, electronics, and furniture.

Collateral

Assets pledged by a borrower to secure credit or a loan, which can be seized in case of default.

Intangibles

Intangibles refer to non-physical assets that have value, such as intellectual property, goodwill, and brand recognition.