C:4-48 Redemption to Pay Death Taxes. John died on March 3. His gross estate of...
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C: Redemption to Pay Death Taxes. John died on March His gross estate of $ million includes First Corporation stock of the outstanding shares worth $ million. John's wife, Myra, owns the remaining shares. Deductible funeral and administrative expenses amount to $ John, Jr is the sole beneficiary of John's estate. Estate taxes amount to $
a Does a redemption of First stock from John's estate, John, Jr or John's wife qualify for sale treatment under Sec.
b On September First Corporation redeems shares of its stock from John's estate for $ How does the estate treat this redemption for tax purposes?
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