Molter v. Commissioner
United States Board of Tax Appeals
Held, that under the provisions of the testator's will petitioner received a vested remainder interest and that the date of acquisition of the property sold in the tax years was the date of death of the testator and not the date of distribution to petitioner.
1Opinion of the Court
*445OPINION.
Leech:
The parties have limited the issue to the question of whether petitioner took a vested or a contingent remainder under the provisions of her father’s will.
The applicable section of the Revenue Act of 1926 is as follows:
Sec. 204. (a) The basis for determining the gain or loss from the sale or other disposition of property acquired after February 28, 1013, shall be the cost of such property; except that—
*446(5) .If the property was acquired by bequest, devise, or inheritance, the basis shall be the fair market value of such property at the time of such acquisition. The provisions of…
2Cases cited15 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Poe v. SeabornSupreme Court of the United States · 1930
- Hyde v. WoodsSupreme Court of the United States · 1877
- Scofield v. OlcottIllinois Supreme Court · 1887
- Ducker v. BurnhamIllinois Supreme Court · 1893
10 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Warner v. CommissionerUnited States Board of Tax Appeals · 1933
- Beers v. CommissionerUnited States Board of Tax Appeals · 1934
- Henry A. Cleland Estate Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- McGrath v. CommissionerUnited States Board of Tax Appeals · 1934
- Molter v. CommissionerUnited States Board of Tax Appeals · 1932
1 more not listed; retrieve them via the Exa API.