T.C. Memo. 1999-368
UNITED STATES TAX COURT
ESTATE OF HELEN J. SMITH, DECEASED, FREDERIC L. FOILL II AND
CASSANDRA F. VALLERY, CO-EXECUTORS, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 25881-96. Filed November 5, 1999.
Aaron P. Rosenfeld and Richard R. Stedman, for petitioner.
Edward L. Walter, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
GALE, Judge: Respondent determined a deficiency of $522,710
in petitioner’s Federal estate tax. We must decide the value of
Helen J. Smith’s shares of stock in two companies, Jones Farm
Inc. (JFI), and First National Bank of Waverly (FNBW), as of her
death on January 25, 1993. When she died, Helen J. Smith
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