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17 F.3d 965 (7th Cir. 1994). The facts in this case have been
stipulated for purposes of the cross-motions for summary
judgment. Decedent's gross estate includes partnership interests
pursuant to sections 2038 and 2044 valued with fractional
interest discounts based on lack of marketability and other
disabilities. The first issue is whether the partnership
interests that were held by the estate should be valued
independently of each other. The second issue is whether the
partnership interests that passed at decedent's death were
partnership interests or "assignee" interests. Both issues
present legal questions and are, therefore, appropriate for
partial summary judgment.
Issue 1
Section 2031 includes in the decedent's gross estate the
value of property described in sections 2033 through 2044. Under
section 2038, a decedent's gross estate includes the value of all
property interests transferred by a decedent during the
decedent's lifetime, unless for full consideration, if at the
decedent's death the enjoyment of such property is subject to any
change through a retained power to revoke. Section 2044 includes
in the gross estate the value of all property in which the
decedent had a qualified income interest for life and for which a
deduction was allowed under section 2056(b)(7) in computing the
value of the decedent's predeceased spouse's estate. Property
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