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 ...