Wall v. Commissioner

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March 27, 2001

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2522 Office Furniture, Except Wood
337214 Office Furniture (except Wood) Manufacturing
estate and gift taxation
fair market value (FMV), s corporation
Wall v. Commissioner
T.C. Memo 2001-75; 2001 Tax Ct. Memo LEXIS 97
US
Federal Court
United States Tax Court
Donna J. Walker, CFA, ASA; Gary L. Schroeder, ASA
Beghe, Renato

Summary

The issue was the fair market value of 9,380 shares of the company's nonvoting common stock, which the majority shareholder gifted into trusts.

See Also

Tax Court Criticizes Experts' Application of Market Approach and Income Approach

Legal and Court Case Update
March 27, 2001

This was a gift tax valuation case in which the sole issue for decision was the fair market value of 9,380 shares of the company's nonvoting common stock, which the majority shareholder gifted into trusts for the benefit of his children.