Johnstone v. Commissioner (A)
United States Tax Court
Estate Tax -- Nonresident Alien -- Gross Estate -- Property Subject to Mortgage -- Full Value or Only Equity of Redemption -- Sections 861 (a) (1), 812 (b) (4) -- Regulations 105, Section 81.38. -- Only the equity of redemption in United States real property need be included in the gross estate of a nonresident alien under Regulations 105, section 81.38 which is in accordance with Congressional intention as indicated by section 812 (b) (4) of the Internal Revenue Code.
1Opinion of the Court
OPINION.
Murdock, Judge:
The Commissioner determined a deficiency in estate tax in the amount of $20,735.87. The only issue presented for decision is whether the interest of a nonresident alien decedent in real property situated in the United States is includible in his gross estate at its full value or at that value less the amount of mortgages to which it was subject. The facts have been stipulated.
The estate tax return was filed with the collector of internal revenue for the second district of New York.
The decedent was a subject and resident of Great Britain. He died in London, England, on…
2Cases cited2 opinions
- City Bank Farmers' Trust Co. v. BowersCourt of Appeals for the Second Circuit · 1934
- Rodiek v. HelveringCourt of Appeals for the Second Circuit · 1937
3Cited by7 opinions
- Estate of Theis v. CommissionerUnited States Tax Court · 1983
- Estate of Fung v. Comm'rUnited States Tax Court · 2001
- Estate of Fung v. Comm'rUnited States Tax Court · 2001
- Estate of Hon Hing Fung, Bernard Fung v. CommissionerUnited States Tax Court · 2001
- Estate of Theis v. CommissionerUnited States Tax Court · 1983
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