Revenue Rulings

Question 1

RR 65-193

Answer 1

Modifies 59-60 by deleting several statements about the separation of tangible and intangible assets.

Question 2

RR 66-49

Answer 2

To be used as a guideline by all persons making appraisals of donated property for federal income tax purposes.

Question 3

RR 68-609

Answer 3

Covers what is known as the formula approach or excess earning method of appraisal.

Question 4

RR 77-12

Answer 4

Describes the acceptable methods for allocating a lump sum purchase price to inventory.

Question 5

RR 77-287

Answer 5

Covers marketability discounts related to restricted stock.

Question 6

RR 83-120

Answer 6

Amplifies RR 59-60 by adding factors that should be considered in valuing common and preferred stock for gift tax and recapitalization purposes.

Question 7

RR 85-75

Answer 7

IRS will not be bound to accept values that it accepted for estate tax purposes as the basis for determining depreciation deductions or income taxes on capital gains from a subsequent asset sale.

Question 8

RR 93-12

Answer 8

Supersedes RR 81-253, allows appropriate lack of control discounts to be applied when minority interests of family members in a closely held corporation are allied.

Question 9

RR 65-192

Answer 9

Modifies 59-60 providing that the theory in 59-60 is applicable to income and other taxes as well to estate and gift taxes.