Leser v. Commissioner
United States Board of Tax Appeals
Under a deed of trust executed by her father in 1883 the petitioner's decedent was granted a general power of appointment to designate the persons to whom certain property should pass upon her decease. The power of appointment was exercised. The decedent died March 29, 1922. Held, that the value of the appointed property was includable in the gross estate of the decedent for the purpose of determining the amount of the estate tax.
1Opinion of the Court
*270OPINION.
Smith:
The question raised by this proceeding is whether the value of the property with respect to which the decedent exercised a testamentary power of appointment constituted a part of the gross estate of the decedent for the purpose of the estate tax. The applicable statute is section 402 of the Revenue Act of 1921, which provides, so far as material:
That the value of the gross estate of the decedent shall be determined by including the value at the time of his death of all property, real or personal, tangible or intangible, wherever situated—
*******(e) To the extent of any property…
2Cases cited20 opinions
- Nichols v. CoolidgeSupreme Court of the United States · 1927
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Carver v. JacksonSupreme Court of the United States · 1830
- Stebbins v. RileySupreme Court of the United States · 1925
- United States v. FieldSupreme Court of the United States · 1921
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3Cited by5 opinions
- Helmholz v. CommissionerUnited States Board of Tax Appeals · 1933
- Estate of Rogers v. CommissionerSupreme Court of the United States · 1943
- Helmholz v. CommissionerUnited States Board of Tax Appeals · 1933
- Lee v. CommissionerUnited States Board of Tax Appeals · 1929
- Leser v. CommissionerUnited States Board of Tax Appeals · 1929