Accredited Farm Manager (AFM) Exam

Special Use Valuation under IRC Section 2032A allows qualifying farmland to be valued for estate tax purposes based on:

Its highest and best use market value Its farm-use value rather than its development or market value, reducing the taxable estate The original purchase price paid by the decedent A fixed USDA formula regardless of location

Correct Answer:

Its farm-use value rather than its development or market value, reducing the taxable estate

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