Estate of Gunland v. Commissioner
United States Tax Court
Petitioner attempted to elect sec. 2032A, I.R.C. 1954, special use valuation. An agreement of the type referred to in sec. 2032A(d)(2) was not attached to petitioner's original estate tax return. Such an agreement was attached to petitioner's late-filed amended return. Held, petitioner's failure to attach an agreement of the type referred to in sec. 2032A(d)(2) to its original estate tax return defeated petitioner's attempted election of sec. 2032A special use valuation.
1Opinion of the Court
OPINION
COHEN, Judge:
Respondent determined a deficiency of $325,094 in petitioner’s estate tax. After concessions, the issues for decision are: (1) Whether petitioner’s failure to attach a recapture agreement of the type referred to in section 2032A(d)(2)1 to its original estate tax return defeats petitioner’s attempted election of section 2032A special use valuation and, if not, (2) whether petitioner also may claim a minority or marketability discount in the valuation of certain stock.
Background
Carl C. Gunland (decedent) died testate on February 10, 1981. R. Elaine Gunland, decedent’s widow…
2Cases cited22 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- United States v. Vogel Fertilizer Co.Supreme Court of the United States · 1982
- Rowan Cos. v. United StatesSupreme Court of the United States · 1981
- Taylor v. CommissionerUnited States Tax Court · 1977
- Sperapani v. CommissionerUnited States Tax Court · 1964
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3Cited by35 opinions
- Specking v. Comm'rUnited States Tax Court · 2001
- Lucille Prussner, as of the Estate of Aileen E. Pfeifer v. United StatesCourt of Appeals for the Seventh Circuit · 1990
- McDonald v. CommissionerUnited States Tax Court · 1987
- Estate of Doherty v. Comm'rUnited States Tax Court · 1990
- Brown-Forman Corp. v. CommissionerUnited States Tax Court · 1990
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