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$5,810,000 charitable contribution deduction claimed on their 1988
amended Federal income tax return.
The issue for decision is whether petitioners made a
charitable contribution of land to the State of Delaware within the
meaning of section 170(a) and, if so, the fair market value of the
contribution on the date of donation.
All section references are to the Internal Revenue Code in
effect for the years under consideration. All Rule references are
to the Tax Court Rules of Practice and Procedure.
FINDINGS OF FACT
Some of the facts have been stipulated and are found
accordingly. The stipulation of facts and the attached exhibits
are incorporated herein by this reference.
Petitioners William P. Short, Jr. and Mary E. Short, husband
and wife,1 resided in Bethany Beach, Delaware, at the time they
filed the petition herein. For convenience, we refer to William P.
Short, Jr. as petitioner.
The Disputed Land
Petitioners owned substantial tracts of undeveloped land
along the Atlantic Ocean beaches in Sussex County, Delaware (Sussex
County). They claimed title to certain parcels of land (the
disputed land) in the same vicinity. The State of Delaware also
1 At the time of trial, both petitioners were ill and
unable to testify. The Court has made no adverse inferences as a
result of their failure to testify. Petitioners' son, Rodney
Short, testified on petitioners' behalf.
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