Summary
At issue is the classification of a lottery prize issued in annual payments as a private annuity, thereby being valued using annuity tables (by the Tax Court) and thus without discounts.
Estate of Cook v. Commissioner
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See Also
5th Circuit Considered the Valuation of Lottery Payments
The U.S. Court of Appeals considered whether deviation from the annuity tables in Sec. 7520 was warranted in the valuation of a lottery prize.