Sara, a cash-basis taxpayer, died September 30, 2022. Assume the following details regarding the assets of her estate: Sara's home was appraised for $14,500,000 at the date of her death and sold on March 15, 2023, for $14,450,000. Sara had a time certificate in the amount of $100,000. The certificate was redeemed for funeral expenses on October 1, 2022. (Ignore interest for purposes of this question.) Sara had common stock valued at $350,000 at the date of death. On the alternate valuation date, the stock was valued at $250,000. Sara had personal and household furnishings that were appraised at $25,000 as of the date of death. The executor gave all of the items to a charity on November 1, 2022. If the alternate valuation date is elected, what is the gross value that must be reported? 

A. $14,825,000 

B. $14,975,000 

C. $14,925,000 

D. $14,875,000

Answer rating: 100% (QA)

The correct answer is A 14825000 Heres how we arrive at the answer Assets included in the gross esta... View the full answer