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

question 68

Multiple Choice

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

• A)Increases the overall 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 no assets will 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 chooses not to make the election.
• E)None of the above.

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