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

question 34

True/False

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 may have made are not considered.

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Definitions:

Traditional Commerce

Commerce transactions that take place in physical locations, such as stores or offices, rather than online.

Authorized Mode

Pertains to a legally or officially approved method or procedure.

Effective

Something that produces a desired result or achieves the intended outcome.

Click-on Agreement

A legal agreement that a user accepts by clicking on a button or link, commonly used in software licenses and online services.