I suspect the IRS is looking for someone to prosecute on this.

Reader comment on: The American Eagle Estate Tax Tactic

Submitted by Lyle (United States), Apr 24, 2013 13:39

If someone does it in a big enough way the IRS will come after it, after all the same arguement could apply to an old (pre 1933) 20 dollar (one ounce) gold piece. It would cost above 1500 now. In both cases the issue is you are supposed to put the fair market value in terms of estate tax return. In the case of the coin, unless you would take $5 right now, that is not the fair market value any more than you would take $20 for a pre 1933 gold piece. Face value in the case of a collectable does not apply, The same thing applies to stamps, some of which have drastically higher values than their face value.

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Other reader comments on this item

Title By Date
IRS Valuation [75 words]DLNApr 24, 2013 18:11
↔ The above ruling I suspect also applies to stamps and other denominated items as well. [26 words]LyleApr 24, 2013 21:55
Jim [17 words]Jim HodgeApr 24, 2013 15:06
⇒ I suspect the IRS is looking for someone to prosecute on this. [121 words]LyleApr 24, 2013 13:39
Tax from every angle [54 words]TheMoomintrollApr 24, 2013 12:45

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