At the time of his death in 2021, Donald owned a farm (a qualified, closely held business)

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At the time of his death in 2021, Donald owned a farm (a qualified, closely held business) with a most suitable use value of $5,000,000 and a current use value of $3,500,000.

a. If the special-use valuation election is made, Donald’s gross estate must include how much as to the farm?

b. What if the farm had a current use value of $4,000,000 (not $3,500,000)?

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South-Western Federal Taxation 2022 Corporations, Partnerships, Estates And Trusts

ISBN: 9780357519240

45th Edition

Authors: William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

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