Valuation Reports Must Provide Sufficient Detail

Business Valuation Update BVLaw
Legal and Court Case Update
March 6, 2003
5021 Furniture
423210 Furniture Merchant Wholesalers
estate and gift taxation

Estate of Leichter v. Commissioner
T.C. Memo 2003-66, 2003 Tax Ct. Memo LEXIS 66
Federal Court
United States Tax Court
Lawerence F. Sherman (for estate on tax return) <br> Burdette Garvin (for estate at trial) <br> John McCallum (for estate at trial) <br> John Thomson (for IRS at trial) <br> Joseph D. Bua (probate referee)


The Tax Court considered the valuation of a closely held S corporation.

See Also

Estate of Leichter v. Commissioner

The issue in this estate tax matter was the fair market value of all 20,000 outstanding shares of Harlee International, Inc., a family-owned S corporation.