Bartman v. Commissioner
United States Tax Court
In 1943 decedent, who then owned and held title to three tracts of real property, transferred one tract to each of three of his children by quitclaim deed, his wife joining in the deeds and releasing her inchoate dower. Simultaneously, each of the three transferees executed an annuity obligation undertaking to pay the decedent, then 82 years old, an annuity of $ 1,000 for his life and a further annuity of $ 1,000 to his wife, should she survive him.
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In 1943 decedent, who then owned and held title to three tracts of real property, transferred one tract to each of three of his children by quitclaim deed, his wife joining in the deeds and releasing her inchoate dower. Simultaneously, each of the three transferees executed an annuity obligation undertaking to pay the decedent, then 82 years old, an annuity of $ 1,000 for his life and a further annuity of $ 1,000 to his wife, should she survive him. Each also simultaneously executed, in accordance with the decedent's requirements a $ 5,000 note secured by mortgage on the transferred property,…
1Opinion of the Court
OPINION.
Arundell, Judge:
Petitioner’s first argument is that none of the gifts in issue was complete so as to occasion the incidence of gift tax. Reliance is placed upon Mabel G. Adams, 44 B. T. A. 1091, and Elizabeth 8. Hettler, 5 T. C. 1079, and in an attempt to bring this case within the scope of those, evidence was presented by petitioner with respect to the gross and net income, in comparatively small amounts, derived from the farming operations on the three gift tracts during the first two or three years after the gifts. The petitioner’s point is that, by means of the annuity obligations…
2Cases cited8 opinions
- Smith v. ShaughnessySupreme Court of the United States · 1943
- Robinette v. HelveringSupreme Court of the United States · 1943
- Du Pont v. CommissionerUnited States Tax Court · 1943
- Bergan v. CommissionerUnited States Tax Court · 1943
- Pennington v. ThomasonTennessee Supreme Court · 1849
3 more not listed; retrieve them via the Exa API.
3Cited by28 opinions
- Fehrs v. United StatesUnited States Court of Claims · 1980
- McMurtry v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1953
- La Fargue v. CommissionerUnited States Tax Court · 1979
- Dix v. CommissionerUnited States Tax Court · 1966
- Estate of Bell v. CommissionerUnited States Tax Court · 1973
23 more not listed; retrieve them via the Exa API.