ESTATE OF MUNDY v. COMMISSIONER

Docket No. 6392-74.

35 T.C.M. 1778 (1976)

T.C. Memo. 1976-395

Estate of Lota C. Mundy, Deceased, Palmer First National Bank and Trust Company of Sarasota, Executor v. Commissioner.

United States Tax Court.

Filed December 27, 1976.


Attorney(s) appearing for the Case

George W. Ericksen, 512 Florida Ave., First Financial Tower, P.O. Box 1531, Tampa, Fla., for the petitioner. Gerald W. Hartley, for the respondent.


Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined a deficiency in the Federal estate tax of the Estate of Lota C. Mundy, deceased, Palmer First National Bank and Trust Company, executor, in the amount of $850,907.11.

The only issue for decision is the fair market value of certain corporate stock owned by decedent at her death. In connection with this determination, we must decide the effect on the value, if any, of certain...

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