Discount Inappropriate in Valuing Indirect Gifts

Business Valuation Update BVLaw
Legal and Court Case Update
March 22, 2002

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estate and gift taxation
TAM 200212006

Summary

The IRS ruled that valuation discounts should not be applied to the value of government bonds indirectly gifted to the donor’s children through their interests in an FLP.

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TAM 200212006

Full Text of Court Cases
March 22, 2002

The IRS ruled that valuation discounts should not be applied to the value of government bonds indirectly gifted to the donor’s children through their interests in an FLP. The taxpayer relied on Shepherd v. Commissioner, 115 T.C. 376 (discounts applied to ...