In satisfying the more-than-35% test of § 6166 (i.e., extended estate tax payment schedule relative to an interest in a closely held business), prior gifts the decedent has made may have to be considered.

Question

Quizplus · Accepted Answer

Prior gifts made by the decedent may be included in determining whether the 35% test is satisfied for the purpose of qualifying for an extended estate tax payment schedule under § 6166.

In Satisfying the More-Than-35% Test of § 6166 (I