Summary
Issue was whether restrictions on transfer in operating agreement meant that the gifted shares were "essentially without immediate value to the donees."
Hackl v. Commissioner (II)
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See Also
7th Circuit Affirms Tax Court; Gifts Were of Future Interests
This opinion is the 7th Circuit Court of Appeals’ ruling on appeal from the Tax Court opinion of Hackl v. Commissioner, 118 T.C. 279 (U.S. Tax Ct. 2002).