Whitehouse Hotel L.P. v. Comm'r
United States Tax Court
The parties agree that W, a partnership, is entitled to a charitable contribution deduction on account of its having made a qualified conservation contribution to a qualified organization. They disagree as to the amount of the contribution.
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The parties agree that W, a partnership, is entitled to a charitable contribution deduction on account of its having made a qualified conservation contribution to a qualified organization. They disagree as to the amount of the contribution. They further disagree as to whether, if W overstated the amount of the deduction, the overstatement amounted to a substantial valuation misstatement or a gross valuation misstatement and, if either, whether any resulting accuracy-related penalty is excused on account of reasonable cause. P also objects to the appraisal testimony of R's expert witness, A,…
1Opinion of the Court
CONTENTS
FINDINGS OF FACT. 115
OPINION. 121
I. Introduction. 121
II. Objection to Mr. Argote’s Testimony . 121
A. Introduction . 121
B. Qualification as an Expert Witness . 121
C. Reliability. 124
1. Introduction . 124
2. Qualified Appraisal . 125
3. Exclusion of the Kress Building. 125
4. Uniform Standards of Professional Appraisal Practice. 126
5. Conclusion. 128
D. Conclusion. 128
III. Expert Testimony as to the Value of the Servitude. 128
A. Introduction . 128
B. Highest and Best Use Considerations . 131
1. Introduction . 131
2. Discussion . 131
3. Conclusion. 135
C. Cost Approach . 135
1. Introduction . 135
2.…
2Cases cited43 opinions
- Daubert v. Merrell Dow Pharmaceuticals, Inc.Supreme Court of the United States · 1993
- Kumho Tire Co. v. CarmichaelSupreme Court of the United States · 1999
- Helvering v. National Grocery Co.Supreme Court of the United States · 1938
- Jules R. Viterbo, Et Ux, (Patricia Viterbo) v. The Dow Chemical Co.Court of Appeals for the Fifth Circuit · 1987
- United States v. 14.38 Acres of Land, More or Less Situated in Leflore County, MississippiCourt of Appeals for the Fifth Circuit · 1996
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3Cited by29 opinions
- Whitehouse Hotel Ltd. Partnership v. CommissionerCourt of Appeals for the Fifth Circuit · 2010
- Stobie Creek Investments LLC v. United StatesCourt of Appeals for the Federal Circuit · 2010
- American Boat Co., LLC v. United StatesCourt of Appeals for the Seventh Circuit · 2009
- New Millennium Trading, L.L.C. v. Comm'rUnited States Tax Court · 2008
- 3K Inv. Partners v. Comm'rUnited States Tax Court · 2009
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