How to value a painting properly for estate tax purposes Estate of Kollsman v. Commissioner Kevin A. Diehl
By: Diehl, Kevin A
.
Material type: 
ArticlePublisher: 2018Subject(s): ARTE | VALORACIONES FISCALES | IMPUESTOS | JURISPRUDENCIAOnline resources: Click here to access online
In:
Journal of Taxation of Investments n. 2, Winter 2018, p. 61-65Summary: Estate tax situations can involve difficult valuation issues, especially if the property in question lacks a readily ascertainable
value. In particular, paintings that are not auctioned can be
among the most challenging items to value. Many factors influence painting valuation, including the depiction’s popularity;
condition, dimensions, and provenance (literature citation); and
degree of direct artist participation. In addition, cleaning risks,
bowing, and attribution disputes can result in discounts to what
would otherwise be the fair market value. A recent case, Estate of Kollsman v. Commissioner, provides valuation guidance.
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Resumen.
Estate tax situations can involve difficult valuation issues, especially if the property in question lacks a readily ascertainable
value. In particular, paintings that are not auctioned can be
among the most challenging items to value. Many factors influence painting valuation, including the depiction’s popularity;
condition, dimensions, and provenance (literature citation); and
degree of direct artist participation. In addition, cleaning risks,
bowing, and attribution disputes can result in discounts to what
would otherwise be the fair market value. A recent case, Estate of Kollsman v. Commissioner, provides valuation guidance.
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