'Interest That Passes' Includes Fractional Interest Discount

Business Valuation Update BVLaw
Legal and Court Case Update
June 4, 1996

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estate and gift taxation
Estate of Louis F. Bonner, Sr. v. USA
77 AFTR2d Par. 96-868 (5th Cir. 1996)
US
Federal Court
5th Circuit
United States Court of Appeals
Per Curiam

Summary

The 5th Circuit reversed the Tax Court and found that fractional interest discounts should be applied.

See Also

Estate of Louis F. Bonner, Sr. v. USA

Full Text of Court Cases
June 4, 1996

The Fifth Circuit reversed the Tax Court, and found that fractional interest discounts should be applied. It concluded that the decedent's ownership of undivided fractional interest in real properties did not merge with the remaining interest held in a QT ...