Legal Opinion
Melvin S. Cohen, Eileen D. Cohen and Edith Phillips v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided September 20, 1990No. 89-2792, 89-2793 and 89-2794PublishedCited by 12 opinions
1Opinion of the Court
KANNE, Circuit Judge.
Under § 2501(a)(1) of the Internal Revenue Code, a tax is imposed upon an individual’s transfer of property by gift. In Dickman v. Comm’r, 465 U.S. 330, 104 S.Ct. 1086, 79 L.Ed.2d 343 (1984), the Supreme Court held that an interest-free demand loan results in a taxable gift to the debtor for the use of the money lent. The issue presented for our review today — i.e., how the value of such a gift should be measured — was not expressly decided by the Court in Dickman, nor has it been addressed by any other court to date. As framed by the parties, the issue is whether the…
2Cases cited8 opinions
- Dickman v. CommissionerSupreme Court of the United States · 1984
- Lester Crown v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1978
- Francine Schuster v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Seventh Circuit · 1986
- James W. Yarbro and Mary E. Yarbro v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Fifth Circuit · 1984
- Eleanor M. Ballard v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1988
3 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Albertson's, Inc. v. CommissionerUnited States Tax Court · 1990
- Frazee v. CommissionerUnited States Tax Court · 1992
- Peter E.C. Muserlian, Theodora Muserlian and Peter Muserlian v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1991
- Principal Life Insurance v. United StatesUnited States Court of Federal Claims · 2010
- Concord Instruments Corp. v. CommissionerUnited States Tax Court · 1994
7 more not listed; retrieve them via the Exa API.