As discussed in a recent issue of the Digest,1 the law is clear as to when property is to be valued for federal estate tax and federal income tax basis purposes.2 That guidance does not resolve the question of how to value the assets as of those dates prescribed as the time for determining value for federal estate tax and income tax basis purposes.
Harl, Neil E.
"Do Sales Close to the Date of Death Establish Value for Federal Estate Tax (and Basis) Purposes?,"
Agricultural Law Digest: Vol. 20
, Article 1.
Available at: https://lib.dr.iastate.edu/aglawdigest/vol20/iss1/1