Which of the following is a special use valuation that can be elected by farms and closely-held businesses?
A)Section 303.
B)Section 1211(a).
C)Section 2032(a).
D)Section 6166.

Question

Quizplus · Accepted Answer

Section 2032(a) allows farms and closely-held businesses to elect a special use valuation for estate tax purposes. This special valuation is based on the value of the property for its current use, rather than its fair market value, which can help reduce the estate tax liability. Section 303 deals with redemptions of stock with a value exceeding 35% of the decedent's adjusted gross estate. Section 1211(a) pertains to the treatment of losses on the sale or exchange of property. Section 6166 allows for the deferral of estate tax payments for certain closely-held businesses.

Which of the Following Is a Special Use Valuation That