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any portion of estate income only confirms that the payment of
the Florida elective share is not a subchapter J distribution.
The dissociation of the Florida elective share from estate
income is illustrated in the case at hand by the following
catalog of the respective interests of the surviving spouse and
the residuary beneficiaries of the Deutsch estate in various
categories of 1989 estate income.
In 1989, the estate received $152,910 in interest and
dividends. Petitioner had no right to receive, participate in,
or enjoy any of these items because the estate received them
after decedent's death; the Probate Court fixed the value and
amount of the elective share as of the date of decedent’s death.
Fla. Stat. Ann. secs. 732.207, 732.214 (West 1995). Furthermore,
the estate received some of those items of income after it had
paid petitioner on November 3, 1989, bearing in mind that the
estate's taxable year was the entire calendar year 1989.
The estate also realized $176,432 in net capital gains that,
because decedent's assets received a step-up in basis at his
death to fair market value, sec. 1014(a), measured appreciation
in estate assets only from the date of death until sale.
Petitioner enjoyed no benefits from that post mortem appreciation
because her share was valued as of the date of decedent’s death.
Fla. Stat. Ann. sec. 732.207 (West 1995). Although the assets
whose sale generated the gains were realized in order to enable
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