How Do D'Ambrosio and Wheeler Fit into the Flp Debate?

6 Pages Posted: 24 Mar 2006

See all articles by Wendy C. Gerzog

Wendy C. Gerzog

University of Baltimore - School of Law


The article discusses the way in which Kimbell and Turner discuss their respective precedents,Wheeler and D'Ambrosio. Wheeler and D'Ambrosio are the Fifth and the Third Circuit's cases that are ostensibly on the same side of an older debate with the Claims Court's decision in Gradow about the valuation equivalence of partial property interests within the context of the bona fide sale exception of section 2036. While Wheeler and D'Ambrosio seem to draw the same conclusion on what constitutes adequate and full consideration in money or money's worth for section 2036 purposes, Kimbell and Turner are not as in sync on that issue as they first appear. Moreover, while Wheeler and D'Ambrosio look as if they are identical interpretations of the adequate and full consideration exception of section 2036, they may have essential differences that initially were not visible.

Keywords: FLPs, 2036, Kimbell, Wheeler, Turner, D'Ambrosio

Suggested Citation

Gerzog, Wendy C., How Do D'Ambrosio and Wheeler Fit into the Flp Debate?. Tax Notes, Vol. 107, pp. 387-392, April 2005. Available at SSRN:

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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