Summary
The Tax Court valued interests in a real estate partnership. It accepted a valuation using the asset approach, plus various discounts. It rejected a discount for selling costs, and a discount for built-in capital gains taxes. It declined to aggregate the ...
Estate of Lucile Marie McCormick v. CIR
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See Also
Tax Court Reiterates Its Positions Regarding the Valuation of Real Estate Partnerships
The Tax Court valued interests in a real estate partnership.
Estate of McCormick v. Commissioner
One of the issues in this estate and gift tax case was the appropriate marketability discounts applicable to two partnership interests decedent owned on several different valuation dates (the dates of various gifts of the partnership interests).