Carol Inherits Her Father's Farm,and the Executor of the Estate

question 109

Essay

Carol inherits her father's farm,and the executor of the estate properly makes a § 2032A election.Five years later,Carol sells the farm.It is determined that the election,which allowed $800,000 in value to be excluded,saved $160,000 in estate taxes.What are Carol's tax options? Tax consequences?

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Essential abilities or competencies required to perform a specific task or job effectively.

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