Question 1
This type of valuation allows the personal representative to value the property 6 months after the death, which is done in an effort to reduce the property value and therefore reduce the tax liability.
◦ Alternate value
◦ Fair market value
◦ Depreciated value
◦ Assisted value
Question 2
The house the decedent lived, owned outright, is an example of:
◦ Schedule A
◦ Schedule A-1
◦ Schedule B
◦ Schedule C