Baxter died this year with a gross estate of $2,000,000, consisting primarily of stock in his family-owned corporation.A redemption of the estate's stock will not qualify if Baxter's interest in the corporation which is included in his estate is 8 percent.

Question

Quizplus · Accepted Answer

A redemption of the estate's stock can still qualify for tax purposes even if Baxter's interest in the corporation is less than 10%.

Baxter Died This Year with a Gross Estate of $2,000,000