Hahn v. Comm'r
United States Tax Court
P and her husband (H) purchased property in 1972 as joint tenants with right of survivorship. P became the sole owner of the property upon H's death in 1991. H's Federal Estate Tax Return reported 100 percent of the date of death value of the property as H's interest therein. P sold the property in 1993 and, pursuant to secs. 2040(a) and 1014(b)(9), I.R.C., included 100 percent of the date of death value of the property in calculating her basis.
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P and her husband (H) purchased property in 1972 as joint tenants with right of survivorship. P became the sole owner of the property upon H's death in 1991. H's Federal Estate Tax Return reported 100 percent of the date of death value of the property as H's interest therein. P sold the property in 1993 and, pursuant to secs. 2040(a) and 1014(b)(9), I.R.C., included 100 percent of the date of death value of the property in calculating her basis. R determined that, because H died after Dec. 31, 1981, pursuant to sec. 2040(b)(1), I.R.C., only 50 percent of the date of death value of the…
1Opinion of the Court
OPINION
Cohen, Chief Judge:
This case was assigned to Special Trial Judge John F. Dean pursuant to section 7443A(b)(4) and Rules 180, 181, and 183.1 The Court agrees with and adopts the opinion of the Special Trial Judge, which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
Dean, Special Trial Judge:
This case is before us on petitioner’s motion for summary judgment and respondent’s cross-motion for partial summary judgment. Respondent determined a deficiency in petitioner’s 1993 Federal income tax in the amount of $50,123 and an accuracy-related penalty under section 6662(a) in the amount…
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- Barnhill v. JohnsonSupreme Court of the United States · 1992
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