Estate of Steinman v. Commissioner
United States Tax Court
At decedent's death she held a general power of appointment over the corpus of a trust. Decedent received the power under the provisions of her husband's will. At the time he executed that will decedent elected to take under his will rather than take her statutory community property interest.
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At decedent's death she held a general power of appointment over the corpus of a trust. Decedent received the power under the provisions of her husband's will. At the time he executed that will decedent elected to take under his will rather than take her statutory community property interest. Held, the value of the corpus of the trust included in decedent's gross estate under sec. 2041(a) as a general power of appointment held at her death should not be reduced by reason of sec. 2043(a).
1Opinion of the Court
Sterrett, Judge:
Respondent, on February 20,1975, issued a statutory notice of deficiency in which he determined a deficiency in petitioner’s Federal estate tax totaling $21,852.89 resulting from the following adjustments:
Item As reported As determined on return by respondent Adjustment
Schedule C: Cash $8,106.33 $8,851.21 $744.88
Schedule H: Power of Appointment 50,171.89 127,202.96 177,031.07
Schedule J: Administrative expenses (2,000.00) 0 2,000.00
Schedule K: Debts 0 1,608.26 (1,608.26)
Schedule L: Attorney’s and trustee’s fees 2,500.00 3,300.00 (800.00)
The parties agree that the adjustments…
2Cases cited5 opinions
- Poe v. SeabornSupreme Court of the United States · 1930
- Estate of Daisy F. Christ, Deceased, Robert Johnson Christ v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1973
- Gregory v. CommissionerUnited States Tax Court · 1963
- Estate of Frothingham v. CommissionerUnited States Tax Court · 1973
- Bressani v. CommissionerUnited States Tax Court · 1966
3Cited by3 opinions
- Robinson v. CommissionerUnited States Tax Court · 1980
- Estate of Steinman v. CommissionerUnited States Tax Court · 1978
- Robinson v. CommissionerUnited States Tax Court · 1980