Abstract

http://ssrn.com/abstract=2272006
 


 



Valuing Fractional Interests in Art for Estate Tax Purposes


Wendy C. Gerzog


University of Baltimore - School of Law

May 30, 2013

Tax Notes, Vol. 139, No. 9, 2013

Abstract:     
It is difficult to value fractional interests in art because there is virtually no market in those interests. Nevertheless, the Tax Court in Estate of Elkins valued the decedent’s fractional interests in multiple artworks, which the decedent and his children highly cherished. First, the court addressed the restricted agreements under section 2703 and then the court determined the value of decedent’s interests in the art.

Number of Pages in PDF File: 4

Keywords: valuation, estate tax, fractional interests, fractional interests in art, LLC, section 2703, restricted agreements, discounts, Elkins

JEL Classification: K11, K34, H2, H10, H20, H22, H23, H24, H29

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Date posted: May 31, 2013  

Suggested Citation

Gerzog, Wendy C., Valuing Fractional Interests in Art for Estate Tax Purposes (May 30, 2013). Tax Notes, Vol. 139, No. 9, 2013. Available at SSRN: http://ssrn.com/abstract=2272006

Contact Information

Wendy C. Gerzog (Contact Author)
University of Baltimore - School of Law ( email )
1420 N. Charles Street
Baltimore, MD 21218
United States
410-837-4522 (Phone)
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