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3. Regarding the Special Use Valuation that is be made under Section 2032A, IRC: (8 points) a. The Special-Use Valuation applies to what kind of

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3. Regarding the Special Use Valuation that is be made under Section 2032A, IRC: (8 points) a. The Special-Use Valuation applies to what kind of property? What is the maximum reduction in value? b. There are two percentage tests - explain how they work? What type of property in particular does the percentage test apply to? 2 c. Explain three conditions that must be satisfied (besides the percentage tests) in order to qualify. d. Explain how the recapture is triggered, and how that works? 3. Regarding the Special Use Valuation that is be made under Section 2032A, IRC: (8 points) a. The Special-Use Valuation applies to what kind of property? What is the maximum reduction in value? b. There are two percentage tests - explain how they work? What type of property in particular does the percentage test apply to? 2 c. Explain three conditions that must be satisfied (besides the percentage tests) in order to qualify. d. Explain how the recapture is triggered, and how that works

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