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At the time of his death in 2022, Donald owned a farm (a qualified, closely held business) with a most suitable use value of $7,975,000
At the time of his death in 2022, Donald owned a farm (a qualified, closely held business) with a most suitable use value of $7,975,000 and a current use value of $5,582,500. 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 $7,177,500 (not $5,582,500). Donald's gross estate must include how much as to the farm
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