T.C. Memo. 2003-251
UNITED STATES TAX COURT
JOHANN T. AND JOHANNA HESS, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 10468-01. Filed August 20, 2003.
Timothy C. Frautschi and Maureen A. McGinnity, for
petitioners.
George W. Bezold and Mark J. Miller, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
RUWE, Judge: Respondent determined a deficiency of $261,950
in petitioner Johann Hess’s Federal gift tax for taxable year
1995. Respondent also determined a deficiency of $261,950 in
petitioner Johanna Hess’s Federal gift tax for taxable year 1995.
The issue for decision is the fair market value under section
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