Estate of Stone v. Commissioner

BVLaw
Full Text of Court Cases
February 22, 2012
6733 Trusts, Except Educational, Religious, and Charitable
523920 Portfolio Management
federal taxation

Estate of Stone v. Commissioner
2012 T.C. Memo 2012-48, 103 T.C.M. (CCH) 1237
US
State Court
Tennessee
United States Tax Court
Unidentified
Goeke

Summary

Tax Court holds transfer of woodlands to FLP outside reach of Section 2036(a); “bona fide sale” was present even though partnership conducted no business or investment activity, had no bank account, and caused no change in use or enjoyment of property.
Estate of Stone v. Commissioner
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See Also

Estate of Stone v. Commissioner

A husband and wife owned 740 acres of undeveloped woodland, which, on the advice of their attorney, they transferred to a family limited partnership (FLP). They each retained a 1% general partnership interest, but over the years began gifting limited part ...

Estate of Stone v. Commissioner

A husband and wife owned 740 acres of undeveloped woodland, which, on the advice of their attorney, they transferred to a family limited partnership (FLP). They each retained a 1% general partnership interest, but over the years began gifting limited part ...