Federal Estate Tax
TAX COURT RULES GIFTS OF NEBRASKA LLP NOT A GIFT OF A PRESENT INTEREST
The United States Tax Court recently published a tax court memorandum opinion, T.C. Memo 2010-2 entitled Walter Price v. Commissioner. In Price the Tax Court held that a couple’s gifts of interest in a Nebraska limited partnership to their children did not qualify for the gift tax present interest annual exclusion under I.R.C. § 2503(b), determining… Read More »
