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Commissioner, 84 T.C. 285, 320 (1985); Zmuda v. Commissioner, 79
T.C. 714, 726 (1982), affd. 731 F.2d 1417 (9th Cir. 1984).
Section 170 and the regulations promulgated thereunder are
silent regarding the market to be used in determining the fair
market value of donated property. However, it has been
recognized that the valuation test for charitable contribution
deduction purposes is generally the same as that used for estate
and gift tax purposes. See United States v. Parker, 376 F.2d
402, 408 (5th Cir. 1967); Lio v. Commissioner, 85 T.C. 56, 66
(1985), affd. sub nom. Orth v. Commissioner, 813 F.2d 837 (7th
Cir. 1987); Anselmo v. Commissioner, 80 T.C. 872, 881 (1983); see
also Anselmo v. Commissioner, 757 F.2d 1208, 1214 (11th Cir.
1985) (“In the usual case, however, there should be no
distinction between the measure of fair market value for estate
and gift tax and charitable contribution purposes.”), affg. 80
T.C. 872 (1983). Section 20.2031-1(b), Estate Tax Regs., and
section 25.2512-1, Gift Tax Regs., provide that the fair market
value of an item of property is to be determined in the market in
which such item is “most commonly sold to the public.” In the
normal situation, a sale “to the public” refers to a sale to the
“retail customer who is the ultimate consumer of the property.”
Anselmo v. Commissioner, 80 T.C. at 882. The “ultimate consumer”
is deemed to be a customer who does not hold the item for
subsequent resale. Goldman v. Commissioner, 388 F.2d 476, 478
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