The Federal Estate Tax and Valuation of Closely Held ...

At Joseph’s death, his estate sold 6756 shares of ELI common stock to ELI at $4111 per share. On the estate tax filing the date of death value of all stock was fixed at $29,050,800 ($4300/share). The Internal Revenue Service determined that the date of death value of the stock was $89,517,000 ($13,250/share) and issued a notice of deficiency. ................
................