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Kermit Ames died on January 15, 2011. The fair market value of his house was $150,000 on his date of death. On July 15, 2011,
Kermit Ames died on January 15, 2011. The fair market value of his house was $150,000 on his date of death. On July 15, 2011, the house was worth $130,000. The executor sold the house on May 2, 2011, for $138,000. What value is used by the executor in the estate tax return?
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