T.C. Memo. 2002-80
UNITED STATES TAX COURT
ESTATE OF WILLIAM G. ADAMS, JR. DECEASED, GEORGE W. SAENGER,
EXECUTOR, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 14698-99. Filed March 28, 2002.
George W. Saenger, pro se.
James E. Gray and Steven Webster, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
COLVIN, Judge: Respondent determined a $635,018.85
deficiency in the estate tax of the Estate of William G. Adams,
Jr. (decedent). After concessions, the sole issue for decision
is whether the fair market value of decedent’s 61.59-percent
interest in Waddell Sluder Adams & Co., Inc. (WSA), on September
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