The date of latest purchase method can be used only if the 20-50% ownership range has been bypassed.

Question

Quizplus · Accepted Answer

The date of latest purchase method can only be used if the 20-50% ownership range has been bypassed because the date of latest purchase method is a method of determining the date of death for tax purposes when the decedent has not made a gift within three years of death. The 20-50% ownership range is a method of determining the value of a gift for tax purposes when the decedent has made a gift within three years of death.

The Date of Latest Purchase Method Can Be Used Only