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Daycare ,solely owned by single parent through 100% ownership of Corp stock, has a 401k plan that allows for deferrals and profit sharing with immediate eligibility. Single Parent hires her three children, ages 23, 21, 19, who all immediately begin deferring salary. Do the Section 318 stock attribution rules apply from the parent to all three children such that all three children are Key employees as well as the parent. OR can the parent's 100% ownership of the stock only be attributed to one child?
