5th Circuit Orders Dollar-for-Dollar Reduction for Built-In Capital Gains in Asset-Based Valuation
This case comes on appeal to the 5th Circuit Court of Appeals from Estate of Dunn v. Commissioner , T.C. Memo 2000-12, 79 T.C.M. (CCH) 1337 (Jan. 12, 2000), which was abstracted in the March 2000 issue of the Business Valuation Update.
Estate of Dunn v. Commissioner (II)
The only issue on appeal was the appropriate built-in gains tax discount to be applied in calculating the fair market value of a 62.96% block of common stock.