What is the name of your state? FL
Father and son own stock in family (C Corp) owned business.
Father also owns 2 buildings personally, of which one is leased to the corporation, the other has been leased to various renters, with income in both cases always going to the father, since they are in his name only.
Under 706 Schedule T for Qualfied Family Owned Business Interests/Deduction - can an estate tax return claim that either of the leased buildings be considered "qualified family owned business interests" in order to achieve the maximum $675,000 allowed deduction under QFOBI?
Father and son own stock in family (C Corp) owned business.
Father also owns 2 buildings personally, of which one is leased to the corporation, the other has been leased to various renters, with income in both cases always going to the father, since they are in his name only.
Under 706 Schedule T for Qualfied Family Owned Business Interests/Deduction - can an estate tax return claim that either of the leased buildings be considered "qualified family owned business interests" in order to achieve the maximum $675,000 allowed deduction under QFOBI?