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Warren J. Kessler and Joan B. Kessler, for petitioner.
Donna F. Herbert and Jonathan H. Sloat, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
NIMS, Judge: Respondent determined, as a primary position,
a Federal estate tax deficiency in the amount of $331,171 with
respect to the estate of Morton B. Harper (the estate). In the
alternative, respondent determined a Federal estate tax
deficiency of $150,496 and a Federal gift tax deficiency of
$180,675 for the 1994 calendar period. The principal issue for
decision is the proper treatment for estate and gift tax purposes
of interests in a limited partnership, some of which were
transferred by Morton B. Harper (decedent) prior to his death,
and another of which was held by decedent at his death.
Unless otherwise indicated, all section references are to
sections of the Internal Revenue Code in effect during the
relevant periods, and all Rule references are to the Tax Court
Rules of Practice and Procedure.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
The stipulations of the parties, with accompanying exhibits, are
incorporated herein by this reference. Decedent was a resident
of Palm Springs, California, when he died testate in Portland,
Oregon, on February 1, 1995. No probate proceeding was ever
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