McGehee v. Commissioner
United States Tax Court
1. After complete transfers of stock in contemplation of death, stock dividends were paid on the stock out of current earnings.
Read the full summary
1. After complete transfers of stock in contemplation of death, stock dividends were paid on the stock out of current earnings. Held, that the shares of stock distributed as stock dividends are includible in the gross estate of the transferor as transfers made in contemplation of death. 2. The decedent left her entire estate in fee simple to her husband without restriction on disposal or use thereof, or the income therefrom, except that any of the property owned by him at the time of his death was to pass to designated persons. Held, that the bequest to the surviving spouse does not entitle…
1Opinion of the Court
OPINION.
Tietjens, Judge:
This proceeding involves a deficiency of $497,815.02 in estate tax. The several issues settled by stipulation will be reflected in tbe computation under Rule 50. Tbe questions still at issue are: (1) Whether tbe value of stock dividends paid on stock between tbe time of its transfer in contemplation of death and tbe death of tbe transferor is includible in decedent’s gross estate under section 811 (c), Internal Revenue Code of 1939, and (2) whether a certain devise and bequest by tbe decedent results in a marital deduction under section 812 (e).
The proceeding was…
2Cases cited15 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Estate of Edward F. Pipe, Deceased, Nettie M. Pipe v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Pipe v. CommissionerUnited States Tax Court · 1954
- Igleheart v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1935
- Hoffenberg v. CommissionerUnited States Tax Court · 1954
10 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Matthew Rives McGehee of the Estate of Delia Crawford McGehee Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
- Noble v. CommissionerUnited States Tax Court · 1959
- Michigan Trust Co. v. KavanaghCourt of Appeals for the Sixth Circuit · 1960
- Charles E. O'malley, Claude C. Alexander and Peter G. Farrow, as Executors of the Will of Edward H. Fabrice, Deceased v. United StatesCourt of Appeals for the Seventh Circuit · 1965
- Tuck v. United StatesDistrict Court, N.D. California · 1959
6 more not listed; retrieve them via the Exa API.