Estate of Michael J. Jackson v. Commissioner

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May 3, 2021
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Estate of Michael J. Jackson v. Commissioner
T.C. Memo 2021-48
US
Federal Court
Federal
United States Tax Court
Jay Fishman, Mark Roesler, Alan Wallis, Owen Dahl (estate/petitioner); Weston Anson (IRS/respondent)
Holmes

Summary

Tax Court mostly sides with estate of late superstar in valuing three contested assets; assets had to be valued separately, based on parties’ stipulations, and at death; court says Jackson’s “tattered” image and likeness meant he earned little money apart from his music; court rejects tax affecting.
Estate of Michael J. Jackson v. Commissioner
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See Also

Tax Court Hands Jackson Estate Major Win but Finds Reasoning for Tax Affecting Unpersuasive

Tax Court mostly sides with estate of late superstar in valuing three contested assets; assets had to be valued separately, based on parties’ stipulations, and at death; court says Jackson’s “tattered” image and likeness meant he earned little money apart from his music; court rejects tax affecting.