ESTATE OF LITTICK v. COMMISSIONER

Docket No. 65578.

31 T.C. 181 (1958)

ESTATE OF ORVILLE B. LITTICK, DECEASED, CLAY LITTICK AND ANNE H. LITTICK, COEXECUTORS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed October 24, 1958.


Attorney(s) appearing for the Case

John C. Graham, Esq., for the petitioner.

James F. Shea, Esq., for the respondent.


TIETJENS, Judge:

The Commissioner determined a deficiency in estate tax of $25,286.22.

The question for decision is whether 670 shares of common stock in the Zanesville Publishing Company owned by decedent at the time of his death subject to the terms of a certain contract between decedent and other stockholders should be valued for estate tax purposes at $200,000 as reported by the estate or at its fair market value $257,910.57 as determined by the...

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