The Election of § 2032 (Alternate Valuation Date) for Estate

question 130

Multiple Choice

The election of § 2032 (alternate valuation date) for estate tax purposes:

• A)Decreases the basis of all assets included in the decedent's estate.
• B)Has no effect on the overall basis of the assets belonging to the surviving spouse's share of the community property.
• C)Means that some assets could end up having a higher income tax basis than their date of death value.
• D)Has no effect on income tax basis if the heirs do not choose to make the election.
• E)None of the above.

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Definitions:

Retinal Disparity

The slight difference in the visual information reaching each eye, enabling the perception of depth.

Reinforcers

Stimuli, which after being presented in conjunction with an action, increase the likelihood of that action being repeated in the future.

Color Constancy

The psychological feature that allows the human brain to perceive colors consistently under varying lighting conditions.

Motion Parallax

A depth cue in which objects closer to the observer move faster across the visual field than objects further away, creating a sense of depth.