If the decedent owned an interest in a qualifying family-owned business, a deduction from the gross estate in the amount of up to __________ may be available.
A. $1,100,000
B. $1,200,000
C. $2,100,000
D. $2,200,000
To find the answer to this question, we need to refer to the relevant tax laws or regulations that determine the deductions available for qualifying family-owned businesses in the case of a decedent. In this case, we can refer to the Internal Revenue Code (IRC) Section 2057.
According to IRC Section 2057, if the decedent owned an interest in a qualifying family-owned business, a deduction from the gross estate may be available. This deduction is commonly known as the "qualified family-owned business interest" deduction.
The maximum amount of this deduction is $1,100,000.
Therefore, the correct answer is:
A. $1,100,000