Wimmer Wins FLP Annual Exclusions
Wendy C. Gerzog
University of Baltimore - School of Law
January 28, 2013
Tax Notes, Vol. 138, No. 4, 2013
In Wimmer, the Tax Court held that the income stream from a taxpayer’s gifts of family limited partnership interests was eligible for the annual exclusion. By comparing the income interest in the partnership’s dividend paying marketable securities to the income interest in a trust, the court made Wimmer a winner. But does the opinion logically lead to that conclusion?
Number of Pages in PDF File: 5
Keywords: gift tax, family limited partnership, FLP, annual exclusion, trust, Wimmer
JEL Classification: H2, H20, H24, K34
Date posted: January 29, 2013
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