What income tax basis will taniel and brandi have in stock

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Fred and Taniel always have lived in a community property state. At the time of Fred's death, the couple held stock that cost them $600,000 but was valued as follows.

Date of Death             Six Months Later
$5,300,000                   $5,200,000

?Problem 1: Under Fred's will, his half of the stock passes to their daughter, Brandi. What income tax basis will Taniel and Brandi have in the stock, if Fred's estate:

a. Elects the alternate valuation date?

b. Does not elect the alternate valuation date?

Reference no: EM132788507

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