Boykin v. Commissioner
United States Board of Tax Appeals
Petitioner and her husband acquired property as tenants by the entireties. The busband died and the value of the entire property was included in determining his taxable estate for estate-tax purposes. Petitioner thereafter sold such property. Held that for the purpose of determining taxable gain or loss to her the cost was the purchase price plus additional expenditures for improvement.
1Opinion of the Court
*478OPINION.
Phillips :
In 1909 William. A. Boykin purchased a residence at a cost of $10,000, which was conveyed to him and his wife, the petitioner herein, as tenants by the entirety. William A. Boykin died in 1918 and, in determining his net estate subject to the Federal estate tax, the Commissioner included this residence at its full value. The petitioner sold this property in 1922 and the question before us is the basis to be used as cost in determining her gain.
It has heretofore been determined that where a husband or wife, holding property as tenants by the entirety, dies and the other…
2Cases cited1 opinion
- Botany Worsted Mills v. United StatesSupreme Court of the United States · 1929
3Cited by9 opinions
- Tide Water Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Reynolds v. CommissionerUnited States Tax Court · 1945
- Burdick v. CommissionerUnited States Board of Tax Appeals · 1934
- Sucesión de Armstrong v. Tribunal de ContribucionesSupreme Court of Puerto Rico · 1952
- Boykin v. CommissionerUnited States Board of Tax Appeals · 1929
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