@rchead037 wrote:
(There's also an option, maybe, to select 6 months after the death day as the day the asset basis is determined? -- IANAL, again, and that may apply only to some more complex trusts).
Just to clarify that point since there appears to be a lot of confusion surrounding the alternate valuation date, the election can only be made if (a) the estate is subject to federal estate tax and (b) the alternate valuation date will reduce the value of the gross estate and the sum of federal estate and GST tax liability.
See https://www.irs.gov/instructions/i706#idm140621886980784
See also, IRC §2032(c)
