If the Alternate Valuation Date Is Elected by the Executor

question 65

True/False

If the alternate valuation date is elected by the executor in 2012, the total basis of inherited property will be more than what it would have been if the primary valuation date and amount had been used.

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Definitions:

Compressed

Reduced in volume as a result of applied pressure.

Atm

Standard atmosphere, a unit of pressure defined as 101,325 Pa; commonly used as a reference pressure in physics and meteorology.

Container

An object used to hold, store, or transport items, ranging from simple boxes to large shipping containers.

Volume

The amount of space that a substance or object occupies or that is enclosed within a container.