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the instant motions for entry of decision based on their
respective interpretations of the terms of the SPA.
Discussion
The two areas of disagreement3 involve (1) computations
relating to deductions for administrative expenses, and (2) the
proper interpretation of paragraphs 2 and 4 of the SPA.
Computations Relating to Administrative Expenses
The parties’ dispute involves certain deductions for
administrative expenses. Petitioner asserts that the Rule 155
computation should include deductions for statutory attorneys’
fees and commissions, additional attorneys’ fees and executor’s
fees awarded by the probate court, interest on California estate
tax, and interest on Federal estate tax. In respondent’s Rule
155 computation, these items were not included due to lack of
substantiation.
In respondent’s Rule 155 computation, she makes a number of
concessions relating to the aforementioned items. Her
concessions recognize that petitioner has substantiated the
amounts claimed or that petitioner is entitled to deductions if,
and when it substantiates the amounts. Accordingly, to the
extent petitioner can provide substantiation, we hold that such
3 In petitioner’s memorandum in objection to respondent’s
Rule 155 computation, it asserts that its payment of its estate
taxes was timely made pursuant to sec. 7502. Respondent concedes
that the return was filed and the tax was paid timely.
Accordingly, there is no issue before the Court in that respect.
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Last modified: May 25, 2011