Hamlin v. Commissioner
United States Tax Court
Commuted value of claim against decedent's daughter for money advanced to her during his lifetime and acknowledged by her in writing, held, includible in decedent's gross estate for lack of evidence that advances were intended as a gift.
1Opinion of the Court
OPINION.
LeMire, Judge:
The petitioner reported the instrument of July 5, 1933, in its return as a “note” having “no value.” The Commissioner determined that there was a commuted value at the time of the decedent’s death. While the parties have now agreed upon the question of value, they differ as to whether any value whatsoever is includible in the gross estate under section 811 (a).
The petitioner contends that the instrument is not a note, but merely a memorandum of a gift. We think it is unnecessary to determine the exact nature of the instrument. The question is whether at the time of his…
2Cases cited4 opinions
- MacAulay v. CommissionerUnited States Tax Court · 1944
- Messmann v. EgenbergerAppellate Division of the Supreme Court of the State of New York · 1899
- Messmann v. EgenbergerAppellate Division of the Supreme Court of the State of New York · 1899
- In re the Estate of RoeNew York Surrogate's Court · 1932
3Cited by1 opinion
- Hamlin v. CommissionerUnited States Tax Court · 1947