Estate of Morton B. Harper, Deceased, Michael A. Harper, Executor - Page 2

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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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