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ESTATE OF MAGGOS v. COMMISSIONER

Docket No. 20877-93.

79 T.C.M. 1861 (2000)

T.C. Memo. 2000-129

Estate of Mary D. Maggos, Deceased, Catherine M. Adkins, Special Administrator v. Commissioner.

United States Tax Court.

Filed April 11, 2000.

Attorney(s) appearing for the Case

McGee Grigsby, Stanley Y. Mukai, R. John Seibert, Kimberly Rae McCorkle, William C. McCorriston, Nathan Jerold Cohen, Jeffrey W. Ferguson, Michael Rosenthal, and Julian Y. Kim, for the petitioner. Henry E. O'Neill, for the respondent.

MEMORANDUM FINDINGS OF FACT AND OPINION

RUWE, Judge:

Respondent determined a deficiency of $2,229,350 in petitioner's Federal gift tax for 1987. The issue for decision is whether a transaction in which Mary D. Maggos' shares of stock in a family-owned company were redeemed constitutes a taxable gift by Mary D. Maggos for purposes of section 2512.1

FINDINGS OF FACT

Some of the facts have been stipulated and are...

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