Estate of McCormick v. Commissioner

Business Valuation Update BVLaw
Legal and Court Case Update
August 7, 1995
1611 Highway and Street Construction, Except Elevated Highways
237310 Highway, Street, and Bridge Construction
estate and gift taxation

Estate of Lucile Marie McCormick v. CIR
T.C. Memo. 1995-371
Federal Court
United States Tax Court


One of the issues in this estate and gift tax case was the appropriate marketability discounts applicable to two partnership interests decedent owned on several different valuation dates (the dates of various gifts of the partnership interests).

See Also

Estate of Lucile Marie McCormick v. CIR

The Tax Court valued interests in a real estate partnership. It accepted a valuation using the asset approach, plus various discounts. It rejected a discount for selling costs, and a discount for built-in capital gains taxes. It declined to aggregate the ...