At the time of his death in 2020, Donald owned a farm (a qualified, closely held business)

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At the time of his death in 2020, Donald owned a farm (a qualified, closely held business) with a most suitable use value of $7,050,000 and a current use value of $4,935,000.

a. If the special-use valuation election is made, Donald's gross estate must include how much as to the farm?

b. Assume the farm had a current use value of $6,345,000 (not $4,935,000). Donald's gross estate must include how much as to the farm?

Related Book For answer-question

South Western Federal Taxation 2015

ISBN: 9781305310810

38th edition

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

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Posted Date: Feb 14, 2022 08:15 AM

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At the time of his death in 2020, Donald owned a farm (a qualified, closely held business)

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South Western Federal Taxation 2015

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