1. The special use valuation method of § 2032A is available for valuing transfers by gift. a. True b.False 2. One way to dispute the existence of large goodwill is to argue that the decedent was not a key person in the operation of the business. a. True b.False 3. Under proper circumstances, a disclaimer by an heir can increase the charitable deduction allowed a decedent. a. True b.False 4. A typical state taxable income subtraction modification is the interest income earned from another state's bonds. a. True b.False

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. The special use valuation method of §
2032A is available for valuing transfers by gift.
a. True
b.False
2. One way to dispute the existence of large
goodwill is to argue that the decedent was
not a key person in the operation of the
business.
a. True
b.False
3. Under proper circumstances, a disclaimer
by an heir can increase the charitable
deduction allowed a decedent.
a. True
b.False
4. A typical state taxable income subtraction
modification is the interest income earned
from another state's bonds.
a. True
b.False
Transcribed Image Text:1. The special use valuation method of § 2032A is available for valuing transfers by gift. a. True b.False 2. One way to dispute the existence of large goodwill is to argue that the decedent was not a key person in the operation of the business. a. True b.False 3. Under proper circumstances, a disclaimer by an heir can increase the charitable deduction allowed a decedent. a. True b.False 4. A typical state taxable income subtraction modification is the interest income earned from another state's bonds. a. True b.False
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