ESTATE OF JEPHSON v. COMMISSIONER

Docket No. 6563-83.

87 T.C. 297 (1986)

ESTATE OF LUCRETIA DAVIS JEPHSON, DECEASED; DAVID S. PLUME, DERMOND IVES, AND THE CHASE MANHATTAN BANK, N.A., COEXECUTORS, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed August 5, 1986.


Attorney(s) appearing for the Case

John Y. Taggart and Myron G. Finley, for the petitioner.

Jack Klinghoffer, for the respondent.


JACOBS, Judge:

By statutory notice of deficiency, respondent determined a deficiency of $847,458.38 in estate tax due from the Estate of Lucretia Davis Jephson, deceased. In his amended answer, respondent claimed a $263,655.19 increased deficiency; thus the total amount in controversy is $1,111,113.57.

After concessions, the only matter left for determination is the value of all the outstanding stock of two investment companies, R.B. Davis Investment...

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