Andrea Dies on April 30, 2011

question 152

Multiple Choice

Andrea dies on April 30, 2011. Which, if any, of the following items is included in her gross estate?

• A) Rents for the month of May (received on May 2) on an apartment building she owned. The alternate valuation date of § 2032 is not elected.
• B) Rents for the month of May (received on May 2) on an apartment building she owned. The alternate valuation date of § 2032 is elected.
• C) Insurance recovery from a fire which occurred on November 1, 2010, and destroyed Andrea's residence.
• D) A loan made by Andrea to her daughter (who is a successful dentist) and forgiven by Andrea in her will.
• E) Choices c. and d. but not a. and b.

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Definitions:

Enjoy Risk

The tendency to find pleasure or satisfaction in taking on challenges or situations that involve uncertainty and potential loss.

Easily Discouraged

Individuals or subjects prone to losing motivation or hope swiftly in the face of challenges or setbacks.

Intrapreneurship

The act of behaving like an entrepreneur while working within a large organization.

Allocate Time

The process of scheduling or assigning time to tasks or activities in order to manage it effectively.