12 Which of the following individuals is NOT considered fami

12. Which of the following individuals is NOT considered \"family\" for purposes of applying the stock attribution rules to a stock redemption?

Multple Choice

A. Parents

B. Grandchildren

C. Grandparents

D. Spouse

Solution

Option C is the answer (Grandparents)

When applying stock attribution rules to a stock redemption family members includes Parents, Spouse and Grandchildren. However for the same purpose, Grandparents are not included in the ambit of Family. Therefore option C, Grandparents is the answer.