@Celilo wrote:Is 26 U.S. Code § 2032 - Alternate valuation enough for me to establish the property's basis.............?
No.
In order to elect the alternate valuation date (6 months after death), that valuation must BOTH decrease the value of the gross estate AND decrease the amount of estate tax due, per Section 2032(c).
See https://www.law.cornell.edu/uscode/text/26/2032
Since the value of the estate is below the exemption and you won't be filing a 706 as result, Section 2032 does not apply.
