In each of the following independent situations, indicate whether the alternate valuation date can be elected. Explain why or why not. Assume that all deaths occur in 2012.
Value of Gross Estate |
Estate Tax Liability |
|||
Decedent |
Date of |
Six Months |
Date of |
Six Months |
Jayden |
$6,000,000 |
$5,900,000 |
$240,000 |
$239,000 |
Isabella |
6,100,000 |
6,000,000 |
265,000 |
260,000 |
Liam |
6,100,000 |
6,000,000 |
200,000 |
210,000 |
Lily |
6,500,000 |
6,400,000 |
205,000 |
204,000 |