Court Utilizes DCF Valuation Method, Decries Failure to Consider Willing Seller

Business Valuation UpdateVol. 3 No. 10
Legal and Court Case Update
October 1997

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7011 Hotels and Motels
721191 Bed-and-Breakfast Inns
estate and gift taxation
estate tax, willing seller, partnership interest
Lehmann v. Commissioner
T.C. Memo 1997-392, 1997 Tax Ct. Memo LEXIS 471
August 26, 1997
US
Federal Court
United States Tax Court
P. Richard Zitelman (for estate)<br>Richard L. Parli (for IRS)
Hamblen

Summary

At date of death, decedent owned a 1% general partnership interest and a 23.9650903% limited partnership interest in LKB Associates, a limited partnership organized under the laws of the District of Columbia.

See Also

Lehmann v. Commissioner

Full Text of Court Cases
August 26, 1997

At issue is whether petitioner correctly valued the partnership interests in LKB Associates for purposes of decedent's gross estate.