Affelder v. Commissioner
United States Tax Court
1. Petitioner transferred property in trust. The trustee was to pay certain annuities to her children and the balance of the income was to be paid her for life. At her death the remainder interest was to go to her children. The trust conveyance carried no provision obligating the trust to pay the gift tax arising from the transaction, but after the conveyance all of the parties in interest joined in a direction to the trustee to pay such tax from the trust corpus.
Read the full summary
1. Petitioner transferred property in trust. The trustee was to pay certain annuities to her children and the balance of the income was to be paid her for life. At her death the remainder interest was to go to her children. The trust conveyance carried no provision obligating the trust to pay the gift tax arising from the transaction, but after the conveyance all of the parties in interest joined in a direction to the trustee to pay such tax from the trust corpus. Held, that for the purpose of determining gift tax liability the value of the property transferred can not be reduced by the…
1Opinion of the Court
Estelle May Affelder, Petitioner, v. Commissioner of Internal Revenue, Respondent
Affelder v. Commissioner
Docket No. 7430
United States Tax Court
7 T.C. 1190; 1946 U.S. Tax Ct. LEXIS 29;
November 27, 1946, Promulgated
Decision will be entered for the respondent.
1. Petitioner transferred property in trust. The trustee was to pay certain annuities to her children and the balance of the income was to be paid her for life. At her death the remainder interest was to go to her children. The trust conveyance carried no provision obligating the trust to pay the gift tax arising from the transaction, but…
2Cases cited4 opinions
- Du Pont v. CommissionerUnited States Tax Court · 1943
- Affelder v. CommissionerUnited States Tax Court · 1946
- Anthony v. CommissionerUnited States Tax Court · 1945
- Gruen v. CommissionerUnited States Tax Court · 1942