Jack inherits stock (a capital asset) from his brother, who died in March of 2022,...
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Jack inherits stock (a capital asset) from his brother, who died in March of 2022, when the property had a $6.7 million fair market value (FMV). This property is the only property included in his brother's gross estate and there is a taxable estate. The FMV of the property as of the alternate valuation date was $6.1 million
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