LO.6 Compute the undervaluation penalty for each of the following independent cases involving the value of a
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LO.6 Compute the undervaluation penalty for each of the following independent cases involving the value of a closely held business in the decedent’s gross estate. In each case, assume a marginal estate tax rate of 35%.
Reported Value Corrected IRS Valuation
a. $ 20,000 $ 25,000
b. 100,000 150,000
c. 150,000 250,000
d. 150,000 500,000
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Related Book For 
South Western Federal Taxation 2013 Corporations Partnerships Estates And Trusts
ISBN: 9781133495574
36th Edition
Authors: William H. Hoffman, William A. Raabe, James E. Smith, David M. Maloney
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