1:5-5 of the gain. On October 21 of the current year, David receives stock of Western Corporation as a gift from his grandfather, who acquired the stock on January 20, 1995. Under what conditions would David's holding period start on? a. October 22 of the current year? b. January 20, 1995? b. January 20, 1995? :5-6 Jim inherits stock (a capital asset) from his brother, who died in March of 2020, when the property had a $15.3 million 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 $14.9 million. a. Why might the executor of the brother's es- tate elect to use the alternate valuation date to value the property? b. Why might Jim prefer the executor to use FMV at time of the death to value the property? c. If the marginal estate tax rate is 40% and Jim's marginal income tax rate is 24% and his rate on ANCG is 15%, which value should the ex- ecutor use? 1:5-7 Martha owns 500 shares of Colum