The basis of property that passes through a decedent's estate is stepped-to the fair market value of the asset on the date of the decedent's death, or, if elected by the executor of the decedent's estate, to the fair market value of the asset on the alternate valuation date. 1. True 2. False

The basis of property that passes through a decedent's estate is stepped-to the fair market value of the asset on the date of the decedent's death, or, if elected by the executor of the decedent's estate, to the fair market value of the asset on the alternate valuation date. 1. True 2. False

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter19: Family Tax Planning

Section: Chapter Questions

Problem 12DQ

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Give typing answer with explanation and conclusion

The basis of property that passes through a decedent's estate is stepped-to the fair market value of
the asset on the date of the decedent's death, or, if elected by the executor of the decedent's estate,
to the fair market value of the asset on the alternate valuation date.
1. True
2. False

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