The alternate valuation date:

Group of answer choices

Is optional if the fair market value of the estate’s assets has decreased.

If elected, may be revoked in an amended return provided that the first return was filed on time.

Can be elected only if it reduces the value of the gross estate and the estate tax liability.

Must be used for valuation of all of the estate’s assets (with no exceptions) if such date is selected.

Answer rating: 100% (QA)

Ans The alternate valuation date Can be elected only if it re... View the full answer