Tax Notes Article by Wendy Gerzog on the Valuation of Art for Estate Tax Purposes

Professor Wendy C. Gerzog discusses Stone v. United States, 60 T.C. 540, Doc 2007-13057, 2007 TNT 106-21 (N.D. Cal. 2007).  In Stone, the district court accepted the IRS's determination that an estate was not entitled to a fractional interest discount for artwork.  Professor Gerzog examines the Stone court's deference to the IRS art advisory panel's valuation and discusses other cases in which courts gave similar weight to the art panel's determinations.

See Wendy C. Gerzog, "Valuing Art in an Estate," 117 Tax Notes 619 (Nov. 5, 2007).