Du Puy v. Commissioner
United States Board of Tax Appeals
The petitioner was bequeathed a life estate in her deceased husband's residuary estate and was entitled to "the rents, issues, income and profits thereof accruing during her life." During the taxable year certain securities belonging to the residuary estate were sold at a gain over their value at the time of the testator's death, which gains were due in part to accumulated earnings since the testator's death and in part to enhancement of value.
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The petitioner was bequeathed a life estate in her deceased husband's residuary estate and was entitled to "the rents, issues, income and profits thereof accruing during her life." During the taxable year certain securities belonging to the residuary estate were sold at a gain over their value at the time of the testator's death, which gains were due in part to accumulated earnings since the testator's death and in part to enhancement of value. Held, that the entire amount of such gains representing the difference between the selling price of the securities and their value at the time of the…
1Opinion of the Court
AMY H. DUPUY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Du Puy v. Commissioner
Docket No. 75907.
United States Board of Tax Appeals
32 B.T.A. 969; 1935 BTA LEXIS 862;
July 18, 1935, Promulgated
The petitioner was bequeathed a life estate in her deceased husband's residuary estate and was entitled to "the rents, issues, income and profits thereof accruing during her life." During the taxable year certain securities belonging to the residuary estate were sold at a gain over their value at the time of the testator's death, which gains were due in part to accumulated earnings since…
2Cases cited18 opinions
- Earp's AppealSupreme Court of Pennsylvania · 1857
- Nirdlinger's EstateSupreme Court of Pennsylvania · 1927
- McKeown's EstateSupreme Court of Pennsylvania · 1919
- Appeal of ReiffSupreme Court of Pennsylvania · 1889
- Dickinson's EstateSupreme Court of Pennsylvania · 1925
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