In 2016, Jerralyn owned 40% of ABC corporation and her mother Mina owned the remaining 60% of the stock. On Feb. 14, 2016, ABC redeemed all of Jerralyn's stock. For the redemption year, Jerralyn filed the agreement required of the family attribution waiver and reported the transaction as a complete termination redemption (i.e. sale and exchange). In 2022, Jerralyn's mom passed away and willed her entire interest in the ABC Corporation stock to Jerralyn. The inheritance of ABC Corporation stock by Jerralyn is a prohibited interest for purposes of the family attribution waiver.

True of False?