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Tuesday, January 14, 2014

Gerzog: Van Alen and the Duty of Consistency

Tax Analysys Logo (2013)Wendy Gerzog (Baltimore), Van Alen: A Reasonable Consistency, 142 Tax Notes 223 (Jan. 13, 2014):

In Van Alen [v. Commissioner, T.C. Memo. 2013-235 (Oct. 21, 2013)], the Tax Court held that the duty of consistency required that two of the decedent’s children use the section 2032A basis valuation figures to determine gain on the sale of their interest in the decedent’s ranch, which was left to them in trust.

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