• Estate denied deduction for Graegin loan—The estate of John F. Koons III was denied a deduction of $71,419,497 for interest payable on a loan to John’s revocable trust to pay estate taxes (Estate of John F. Koons III, et al. v. Commissioner, T.C. Memo. 2013-94). The estate held about $19 million of liquid assets, and John’s revocable trust owned 50.5 percent of Central Investment LLC (CI LLC), which included a46.94 percent voting interest and a 51.59 ...

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