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donation purposes. The estate and gift tax
regulations are aimed at preventing abusive
undervaluation of property; the regulations
governing charitable contributions are not.
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. Cf. Champion v.
Commissioner, 303 F.2d 887, 892-93 (5th Cir.
1962). * * *
Thus, the Court of Appeals noted that the estate and gift
tax regulations were not a perfect fit in considering the
charitable deduction in that case because the taxpayers
had an incentive to inflate the value of the property,
whereas "the estate and gift tax regulations are aimed at
preventing abusive undervaluation of property". Id. The
same is true in the instant cases. Nevertheless, we also
agree with the Court of Appeals that "there should be no
distinction between the measure of fair market value".
Id.; see also United States v. Parker, 376 F.2d 402, 408
(5th Cir. 1967); Skripak v. Commissioner, supra at 322 n.
30. Finally, we agree with the Court of Appeals that
selection of the proper market for valuation purposes is a
question of fact. See Anselmo v. Commissioner, 757 F.2d
at 1213.
A sale to the public is a sale to the ultimate
consumer of the property, that is, a sale to one of a
group of persons who do not purchase the item for resale.
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