Miller v. Commissioner
United States Tax Court
A decedent who died within five years of his prior decedent and received a bequest from the estate of such prior decedent, deposited the bequest in his bank account containing personal funds. Thereafter, he made additional deposits in the account and withdrew from the account moneys for the purchase of securities and for personal expenditures.
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A decedent who died within five years of his prior decedent and received a bequest from the estate of such prior decedent, deposited the bequest in his bank account containing personal funds. Thereafter, he made additional deposits in the account and withdrew from the account moneys for the purchase of securities and for personal expenditures. Held, under the facts, that petitioners have sufficiently identified the securities and the balance in the account at decedent's death as derived from the bequest and are entitled to a deduction therefor under section 812 (c) of the Internal Revenue…
1Opinion of the Court
OPINION.
HaRron, Judge:
The question arises under section 812 (c) of the Internal Revenue Code.1 The decedent, after receiving a cash legacy of $50,000 from the estate of his sister within five years before his own death, purchased various securities. When he died he possessed the securities. Also, there was a cash balance in his bank account. The issue here requires proving facts. Have petitioners introduced evidence to show that certain cash can be identified as having been received as a legacy and that the securities in question were purchased out of the legacy? Regulations 105, section…
2Cited by8 opinions
- Aurore B. Benoit, Transferee v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1956
- Schroeder v. CommissionerUnited States Tax Court · 1949
- Horlick v. KuhlDistrict Court, E.D. Wisconsin · 1945
- Aurore B. Benoit, Transferee v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1956
- Estate of William Carey Coffin v. CommissionerUnited States Tax Court · 1950
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