The U.S. Tax Court ruled that the estate of Eva Franzen Kollsman undervalued two paintings by $1.77 million. The court found the estate's expert, George Wachter, unreliable due to conflicts of interest, favoring the IRS's expert, Paul Cardile, who used comparables. The Maypole painting was valued at $1.995 million and the Orpheus painting at $375,000.
documents/EFTA01063318.pdf
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