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Rowene died during the current tax year on March 27. The executor of her estate property elected the alternate valuation date to value her property.

Rowene died during the current tax year on March 27. The executor of her estate property elected the alternate valuation date to value her property. A parcel of land that she owned was valued as follows:

March 27$500,000

September 27$400,000

October 15$375,000

The land was distributed to her beneficiary, Margaret, on October 15. This land should be included in her gross estate at what value?

$ 0.

$375,000.

$400,000.

$500,000.

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