Redemption for Less Than Fair Market Value Is Taxable Gift

Business Valuation Update BVLaw
Legal and Court Case Update
April 11, 2000

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2086 Bottled and Canned Soft Drinks and Carbonated Waters
312112 Bottled Water Manufacturing
estate and gift taxation
Estate of Maggos v. Commissioner
T.C. Memo 2000-129, 79 T.C.M. 1861
US
Federal Court
United States Tax Court
Kenneth McGraw (for taxpayer)<br>Robert Reilly (for taxpayer)<br>David N. Fuller (for IRS)
Ruwe

Summary

The issue in this case is whether the decedent's redemption of 567 shares to Pepsi-Cola Alton Bottling Inc. (PCAB) was indeed a gift to her son, who ran the company.

See Also

Estate of Maggos v. Commissioner

Full Text of Court Cases
April 11, 2000

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