Estate of Foote v. Commissioner
United States Tax Court
The corporation of which decedent was an officer paid after his death to his estate the approximate amount of the salary he would have earned from the time of his death to the end of the year. The payment was made to the estate rather than to the widow to ensure that the benefits would go to those who were the objects of deceased's bounty under his will.
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The corporation of which decedent was an officer paid after his death to his estate the approximate amount of the salary he would have earned from the time of his death to the end of the year. The payment was made to the estate rather than to the widow to ensure that the benefits would go to those who were the objects of deceased's bounty under his will. Held, the payment was not compensation for services, but was a gift excludible from gross income under section 22 (b) (3), I. R. C. 1939.
1Opinion of the Court
Estate of Frank J. Foote, Deceased, First Bank and Trust Company of South Bend, Executor, Petitioner, v. Commissioner of Internal Revenue, Respondent
Estate of Foote v. Commissioner
Docket No. 59678
United States Tax Court
28 T.C. 547; 1957 U.S. Tax Ct. LEXIS 171;
May 29, 1957, Filed
Decision will be entered for the petitioner.
The corporation of which decedent was an officer paid after his death to his estate the approximate amount of the salary he would have earned from the time of his death to the end of the year. The payment was made to the estate rather than to the widow to ensure that the…
2Cases cited5 opinions
- Fisher v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1932
- Bausch's Estate v. Commissioner of Internal Revenue (Two Cases)Court of Appeals for the Second Circuit · 1951
- Estate of Hellstrom v. CommissionerUnited States Tax Court · 1955
- Bausch v. CommissionerUnited States Tax Court · 1950
- Estate of Foote v. CommissionerUnited States Tax Court · 1957