Which,if any,of the following statements correctly reflects the operational rules under § 2032A ("special use" valuation) ?
A) The § 2032A election is available for gift tax situations.
B) The § 2032A election permits the valuation of qualifying property at its "best" use value.
C) In meeting the 50% test and 25% test, the qualifying property is considered at its "best" use value.
D) If § 2032A is elected, only a sale of the qualifying property within the next 10 years will cause recapture.
E) None of the above.
Correct Answer:
Verified
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