Sara and Michael have decided to set up a Family Limited Partnership and begin transferring interests to their 5 children. If they get a 22% discount for lack of marketability, what is the maximum amount they can transfer in 2022 to any one child?

Sara and Michael have decided to set up a Family Limited Partnership and begin transferring interests to their 5 children. If they get a 22% discount for lack of marketability, what is the maximum amount they can transfer in 2022 to any one child?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Sara and Michael have decided to set up a Family Limited Partnership and begin transferring
interests to their 5 children. If they get a 22% discount for lack of marketability, what is the
maximum amount they can transfer in 2022 to any one child?

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