Estate of Kincaid v. Commissioner
United States Tax Court
W's husband (H) included in his will a formula maximum marital deduction bequest. After the death of H in 1975, W received certain payments which constitute income in respect of a decedent (IRD) as part of her marital share. The IRD is includable in W's income tax return. Sec. 691(c), I.R.C. 1954, provides for an income tax deduction for estate tax attributable to IRD.
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W's husband (H) included in his will a formula maximum marital deduction bequest. After the death of H in 1975, W received certain payments which constitute income in respect of a decedent (IRD) as part of her marital share. The IRD is includable in W's income tax return. Sec. 691(c), I.R.C. 1954, provides for an income tax deduction for estate tax attributable to IRD. A necessary step in computing the amount of this deduction is the recomputation of H's estate tax without including the IRD. Held, the full maximum marital deduction subject only to the 50-percent limitation pursuant to sec.…
1Opinion of the Court
OPINION
Clapp, Judge:
Respondent determined a deficiency in Nelle W. Kincaid’s income tax for 1976 of $98,864.18 and a deficiency in her income tax for 1977 of $223,080.75. Because of concessions by both parties, the only issue for our determination is the proper method of computing the deduction under section 691(c)1 for estate tax attributable to income in respect of a decedent where there is a formula maximum marital deduction bequest.
This case was submitted under Tax Court Rule 122. The stipulations and attached exhibits are incorporated herein by this reference. Nelle W. Kincaid…
2Cases cited6 opinions
- Helvering v. New York Trust Co.Supreme Court of the United States · 1934
- Davidson v. CommissionerSupreme Court of the United States · 1938
- Estate of Sidles v. CommissionerUnited States Tax Court · 1976
- Findlay v. CommissionerUnited States Tax Court · 1962
- Helen Rich Findlay v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1964
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Estate of Cherry v. United StatesDistrict Court, W.D. Kentucky · 2001
- Cynthia L. Rowe v. CommissionerUnited States Tax Court · 2007
- Estate of Kincaid v. CommissionerUnited States Tax Court · 1985
- Estate of Kincaid v. CommissionerUnited States Tax Court · 1986
- Rowe v. Comm'rUnited States Tax Court · 2007
1 more not listed; retrieve them via the Exa API.