Tax Drill - Section 303 Complete the following statements regarding & 303. Enter the percent as a whole number. Section 303 provides treatment to a redemption of stock included in, and representing a substantial part of, a decedent's gross estate. It applies only to a distribution made with respect to stock of a corporation that is included in the gross estate of a decedent and whose value exceeds % of the value of the adjusted gross estate. Tax Drill - Family Attribution Waiver Jasper owns 40% of the stock in Jamison Corporation, while the remaining interest in Jamison is held as follows: 30% by Erin (Jasper's wife) and 20% by Brian (a key employee). Jamison redeems all of Jasper's stock for its fair market value. As a result, Erin and Brian are the only remaining shareholders, now owning 75% and 25%, respectively. Complete the following statement regarding the family attribution rules and stock redemptions. qualify as a complete If the two requirements for the family attribution waiver are met, the transaction termination redemption and result in treatment. Tax Drill - Sections 162 and 163 Complete the following statements regarding $$ 162 and 163 and stock redemptions. In redeeming its shares, a corporation may incur certain expenses such as accounting, brokerage, legal, and loan fees. Section 162(k) specifically a deduction for expenditures incurred in connection with a stock redemption. The does not apply to amounts otherwise deductible as interest under $ 163, such as interest from debt-financed redemptions