Damon v. Commissioner
United States Tax Court
Held, that the fair market value of common stock of a corporation held by the estate on the valuation date is the price at which other common stock of such corporation was sold in the over-the-counter market on such date. Sec. 2031, I.R.C. 1954, and sec. 20.2031-2, Estate Tax Regs.
1Opinion of the Court
Estate of Robert Hosken Damon, Deceased, Robert J. C. Damon and Leslie W. Damon, Coexecutors, Petitioner v. Commissioner of Internal Revenue, Respondent; Estate of Robert Hosken Damon, Deceased, Thelma Elinor Damon Buddington, Coexecutrix, Petitioner v. Commissioner of Internal Revenue, Respondent
Damon v. Commissioner
Docket Nos. 2820-64, 2851-64
United States Tax Court
49 T.C. 108; 1967 U.S. Tax Ct. LEXIS 18;
November 27, 1967, Filed
Decision will be entered under Rule 50.
Held, that the fair market value of common stock of a corporation held by the estate on the valuation date is the price at…
2Cases cited6 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Helvering v. Safe Deposit & Trust Co. of BaltimoreCourt of Appeals for the Fourth Circuit · 1938
- Safe Deposit & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1937
- Damon v. CommissionerUnited States Tax Court · 1967
- Moore v. CommissionerUnited States Board of Tax Appeals · 1930
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