# kaal:claim:4033886-025

**Claim.** A major shortcoming of the QMDM is that no court in any case has accepted it, although it has been mentioned explicitly in three tax cases decided in 2000, 2001, and 2006.

**Type.** failure  **Support.** evidenced

**Holds when.**

- judicial acceptance in United States tax litigation

**Source quote.**

> One major shortcoming of the QMDM is that it has not been accepted by any court in any case, but has been mentioned explicitly in three tax cases from 2000, 2001, and 2006.119

**From.** Wulf A. Kaal, Samuel Evans, Hayley Howe, *Digital Asset Valuation* (2022), III.3.a(3) Quantitative Marketability Discount Model (QMDM), page 28

**Cite as.** Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

**Verify.** sha256 of source PDF `52ba05b1292b1be4bfaf1ee5cf56b14fea9c196d870603e794d7ee316df129bd` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20et%20al.%20-%202022%20-%20Digital%20Asset%20Valuation.pdf

**Failure mode.** no judicial acceptance  (family: valuation-and-pricing-failure)

**Topics.** law-and-legal-systems

**Keywords.** qmdm, judicial-acceptance, tax-court, dlom

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