McDonald v. Commissioner
United States Tax Court
Petitioner Gladys L. McDonald (P) and decedent held real property in joint tenancies which were created before 1976. On Sept. 23, 1981, within 9 months after decedent's death, P executed a disclaimer of decedent's one-half interest in the real property. Held, the transfers of the property interests occurred upon the creation of the joint tenancies.
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Petitioner Gladys L. McDonald (P) and decedent held real property in joint tenancies which were created before 1976. On Sept. 23, 1981, within 9 months after decedent's death, P executed a disclaimer of decedent's one-half interest in the real property. Held, the transfers of the property interests occurred upon the creation of the joint tenancies. Held, further, the disclaimer was not made within a reasonable time as required by sec. 25.2511-1(c), Gift Tax Regs., and thus constituted a taxable transfer under sec. 2511, I.R.C. 1954. Kennedy v. Commissioner, 804 F.2d 1332 (7th Cir. 1986),…
1Opinion of the Court
OPINION
GERBER, Judge:
Respondent determined a $90,163.37 Federal gift tax deficiency regarding Gladys L. McDonald for the taxable quarter ended September 30, 1981, and a $152,013.67 estate tax deficiency for the Estate of John McDonald. These cases were submitted fully stipulated pursuant to Rule 122.2 The stipulated facts and attached exhibits are incorporated herein by this reference.
The two issues presented for our consideration are (1) whether a disclaimer is a qualified disclaimer under section 2518 or a disclaimer executed within a reasonable time under section 2511,3 and (2) whether the…
2Cases cited27 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Riggs v. Del DragoSupreme Court of the United States · 1942
- Jewett v. CommissionerSupreme Court of the United States · 1982
- Harms v. SpragueIllinois Supreme Court · 1984
- Estate of Ralph D. Cowser, Deceased, Patricia Ann Tucker v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1984
22 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Estate of Doherty v. Comm'rUnited States Tax Court · 1990
- McDonald v. CommissionerCourt of Appeals for the Eighth Circuit · 1988
- Estate of Harry M. Hudgins, Deceased, Lee C. Hudgins and Harry Hudgins Ii, Co-Independent Executors v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1995
- Estate of Merwin v. CommissionerUnited States Tax Court · 1990
- Estate of Dancy v. CommissionerUnited States Tax Court · 1987
21 more not listed; retrieve them via the Exa API.