Astleford v. Commissioner (filed 5/5/08 - Layered Discounts)

In this U.S. Tax Court case, the Court applied layered discounts in valuing an interest in a real estate limited partnership. The Court concluded a combined discount of 30% in valuing a 50% general partnership interest in an underlying entity and then applied lack of control discounts of 16.17% and 17.47% (for the two valuation dates) and discounts for lack of marketability of 22%.


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