Gary v. Commissioner
United States Board of Tax Appeals
Petitioner's decedent died owning a vested remainder interest in 3,000 shares of stock held in trust, subject to a life interest in his mother, which he had acquired under the will of a prior decedent who died within five years. An estate tax was paid by the prior decedent's estate on the value of the 3,000 shares of stock. There was no increase in value of the stock between the death of the prior decedent and the death of petitioner's decedent.
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Petitioner's decedent died owning a vested remainder interest in 3,000 shares of stock held in trust, subject to a life interest in his mother, which he had acquired under the will of a prior decedent who died within five years. An estate tax was paid by the prior decedent's estate on the value of the 3,000 shares of stock. There was no increase in value of the stock between the death of the prior decedent and the death of petitioner's decedent. The vested remainder interest did increase in value during this period. Held, the entire value of the vested remainder interest at the time of…
1Opinion of the Court
VIRGINIA V. GARY, FORMERLY VIRGINIA V. DOUGLASS, EXECUTRIX OF THE ESTATE OF HOWARD W. DOUGLASS, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Gary v. Commissioner
Docket No. 40031.
United States Board of Tax Appeals
30 B.T.A. 1143; 1934 BTA LEXIS 1225;
June 29, 1934, Promulgated
Petitioner's decedent died owning a vested remainder interest in 3,000 shares of stock held in trust, subject to a life interest in his mother, which he had acquired under the will of a prior decedent who died within five years. An estate tax was paid by the prior decedent's estate on the value of…
2Cases cited1 opinion
- Gary v. CommissionerUnited States Board of Tax Appeals · 1934