Terrible FLP Facts Preclude Analysis of Discounts

Business Valuation UpdateVol. 15 No. 6
Legal and Court Case Update
June 2009

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6733 Trusts, Except Educational, Religious, and Charitable
525920 Trusts, Estates, and Agency Accounts
federal taxation
Estate of Jorgensen v. Commissioner
2009 WL 7920771 (U.S. Tax Ct.)
March 26, 2009
US
Federal Court
United States Tax Court
Chong S Hong, Dennis I Leonard, Jeffrey L Heinkel, John F Ramsbacher, John W Prokey, Matthew A Mendizabal
Haines

Summary

Tax Court finds not one factor supporting a legitimate, nontax business purpose for family limited partnerships funded with over $2 million in largely untraded marketable securities.

See Also

Estate of Jorgensen v. Commissioner

Full Text of Court Cases
March 26, 2009

Tax Court finds not one factor supporting a legitimate, nontax business purpose for family limited partnerships funded with over $2 million in largely untraded marketable securities.