STEP Society Of Trust And Estate Practitioners (TEP) Certification

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Under IRC Section 4941, which of the following is a recognized exception to the self-dealing rules for private foundations?

Selling investment property to a substantial contributor at fair market value Lending foundation funds to a disqualified person without interest Paying reasonable compensation to a disqualified person for necessary personal services rendered to the foundation Renting office space from a foundation board member at below-market rates

Correct Answer:

Paying reasonable compensation to a disqualified person for necessary personal services rendered to the foundation

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