Another Day, Another Conference
This week I am in Philadelphia for the NACVA conference where FCG is an exhibitor. Attendance is approximately 500. The program is diverse with an interesting advanced valuation track. FCG members who are speaking here include Chris Mercer, Nancy Fannon, Chris Treharne, Ed Moran, and Jim Hichner.
New Tax Court Case on Built-in Gains
Estate of Jelke v. Commissioner, T.C. Memo 2005-131, May 31,
2005
The Tax Court allowed a reduction for built-in gain on appreciated
marketable securities to arrive at net asset value for a C corporation, but
limited the reduction to the present value of the gain based on assumed future
sales dates of the securities. The Court also determined thediscounts for lack
of control and marketability. Thanks to John Gilbert for this
entry.
Eva Lang
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