Miller v. Commissioner
United States Tax Court
At the time of his death, decedent and his wife owned all of the stock in two corporations to which decedent was indebted in the amounts of $ 30,000 and $ 3,000. Pursuant to an order of the Probate Court, the last day for filing claims against the estate was Feb. 21, 1973. The corporations did not file claims against the estate for these debts.
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At the time of his death, decedent and his wife owned all of the stock in two corporations to which decedent was indebted in the amounts of $ 30,000 and $ 3,000. Pursuant to an order of the Probate Court, the last day for filing claims against the estate was Feb. 21, 1973. The corporations did not file claims against the estate for these debts. Nevertheless, in Aug. 1973, the estate filed a Federal estate tax return on which it reported the indebtedness to the corporations by claiming a $ 33,000 deduction. Wisconsin law (Wis. Stat. Ann. secs. 859.01 and 859.05 (West 1971) provides that claims…
1Opinion of the Court
Featherston, Judge:
Respondent determined a deficiency in the amount of $14,428.37 in the Federal income tax of the Estate of Carl T. Miller for 1973. Respondent further determined that petitioner Alice G. Miller is individually liable for the deficiency under section 3467 of the Revised Statutes of the United States as amended. The only issue for decision is whether the estate realized income during 1973 from the discharge of indebtedness within the meaning of section 61(a)(12).1
FINDINGS OF FACT
The Estate of Carl T. Miller (hereinafter the estate) filed a Federal fiduciary income tax return…
2Cases cited30 opinions
- Campbell v. HoltSupreme Court of the United States · 1885
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- Haase v. SawickiWisconsin Supreme Court · 1963
- Eingartner v. Illinois Steel Co.Wisconsin Supreme Court · 1899
- Johnson v. HeintzWisconsin Supreme Court · 1976
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3Cited by7 opinions
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- Friedman v. CIRCourt of Appeals for the Sixth Circuit · 2000
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