In each of the following independent situations, indicate whether the alternate valuation date can be elected. Explain

Question:

In each of the following independent situations, indicate whether the alternate valuation date can be elected. Explain why or why not.

Value of Gross Estate Estate Tax Liability Date of Six Months Date of Six Months Decedent Death Later Death Later Jayden $16,000,000 $15,900,000 $5,040,000 $5,039,000 Isabella 16,100,000 16,000,000 5,065,000 5,060,000 Liam 16,100,000 16,000,000 5,000,000 5,010,000 Lily 16,500,000 16,400,000 5,005,000 5,004,000