Arlene's estate include the following assets
Fair Market Value
Date of Death Six Months Later
Apartment Building 4,400,000 4,380,000
Stock in Red Corporation 1,200,000 1,300,000
Stock in Tan Corporation 900,000 700,000
Accrued rents on the apartment building are as follows" 70,000 (date of death) and 60,000 (six months later). In order to pay expenses, the executor of Arlene's estate sells the Tan stock for $600,000 eight months after her death
a. If the 2032 election is made, how much is included in Arlene's gross estate>
b. As to part (a), assume the Tas stock is sold for $600,000 five months (rather than eight months) after Arlene's death. How does this change your answer, it at all?
c. How much is included in the gross estate if the 2032 election is not made?