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all Rule references are to the Tax Court Rules of Practice and
Procedure.
After a concession by respondent,1 the issue for our
decision is whether respondent is equitably estopped from
assessing additional estate tax. If we find that respondent is
not estopped, we must decide the proper amount of blockage and
fractional interest discounts to be applied to petitioner’s nine
real properties.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
The stipulations of fact and the attached exhibits are
incorporated herein by this reference.
Eileen K. Brocato (decedent) died on April 12, 1993. At the
time of her death, decedent resided in San Anselmo, California.
On June 30, 1994, coexecutors Nina Cimarelli and Leon
Schiller filed an estate tax return (the return) on behalf of
petitioner. At the time the petition was filed, the coexecutors
resided in San Francisco, California.
Family Background
Decedent was predeceased by her husband, John Brocato (Mr.
Brocato). Under the terms of Mr. Brocato’s will, his estate
passed into a testamentary trust for the benefit of decedent
1 Respondent concedes that the value of the property
located at 40 Legend Road, San Anselmo, California, was $231,625,
as reported on decedent’s estate tax return.
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