Richard v. Madden and Margaret J. Madden v. Commissioner of Internal Revenue

This is an appeal from a decision of the Tax Court. Madden v. Commissioner of Internal Revenue, 52 T.C. 845 (1969).

While the factual situation here involved is set forth in detail in the Tax Court’s decision, the following is a brief summary thereof.

Madden included in the gross estate in the federal estate tax return of his deceased wife one-half of the value of certain stock owned by them as joint tenants. He subsequently sold the stock and included in his basis the value as reported for federal estate tax purposes.

Madden offered no proof as to source of ownership but contends that under the…