Estate of Metcalf v. Commissioner
United States Tax Court
1. Held, that prior to his death the decedent did not dispose of ownership of certain bonds by valid parol trust, or otherwise, and the value thereof was properly included in his gross estate. 2. Real estate taxes, penalties, etc., had accrued and constituted a lien on certain of decedent's property prior to his death. A suit was instituted by the taxing authorities to enforce the lien and collect the amount of the taxes, penalties, etc.
Read the full summary
1. Held, that prior to his death the decedent did not dispose of ownership of certain bonds by valid parol trust, or otherwise, and the value thereof was properly included in his gross estate. 2. Real estate taxes, penalties, etc., had accrued and constituted a lien on certain of decedent's property prior to his death. A suit was instituted by the taxing authorities to enforce the lien and collect the amount of the taxes, penalties, etc. The suit was compromised by the estate for a lesser amount than the amount of the taxes claimed. Held, that only the lesser amount is deductible from the…
1Opinion of the Court
Estate of William P. Metcalf, Louise M. Prest and Sandol M. Stark, Executrices, Petitioners, v. Commissioner of Internal Revenue, Respondent
Estate of Metcalf v. Commissioner
Docket No. 5819
United States Tax Court
7 T.C. 153; 1946 U.S. Tax Ct. LEXIS 149;
June 18, 1946, Promulgated
Decision will be entered for the respondent.
1. Held, that prior to his death the decedent did not dispose of ownership of certain bonds by valid parol trust, or otherwise, and the value thereof was properly included in his gross estate.
2. Real estate taxes, penalties, etc., had accrued and constituted a lien on certain…
2Cases cited7 opinions
- Colton v. ColtonSupreme Court of the United States · 1888
- Allen v. WithrowSupreme Court of the United States · 1884
- Chicago, Milwaukee & St. Paul Railway Co. v. Des Moines Union Railway Co.Supreme Court of the United States · 1920
- Collins v. McCanlessTennessee Supreme Court · 1943
- Du Val v. CommissionerUnited States Tax Court · 1945
2 more not listed; retrieve them via the Exa API.