Scott v. Commissioner
United States Board of Tax Appeals
1. Real estate which under State statutes is not subject to administration expenses can not be included as part of decedent's gross estate under the Revenue Act of 1924. 2. The amount of an unpaid mortgage upon such real estate held not deductible from decedent's gross estate under section 303(a)(1) of the Revenue Act of 1924. 3. Petitioners sold decedent's real estate located in Missouri and the State court allowed them commissions because of such sale.
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1. Real estate which under State statutes is not subject to administration expenses can not be included as part of decedent's gross estate under the Revenue Act of 1924. 2. The amount of an unpaid mortgage upon such real estate held not deductible from decedent's gross estate under section 303(a)(1) of the Revenue Act of 1924. 3. Petitioners sold decedent's real estate located in Missouri and the State court allowed them commissions because of such sale. Held, such commissions are not deductible from decedent's gross estate within the meaning of section 303 of the Revenue Act of 1924. 4.…
1Opinion of the Court
*134OPINION.
Marquette :
At the time of his death, Philip A. McDermott owned real estate located in Missouri of the value of $242,460. Against this real property there was a bona fide mortgage encumbrance amounting to $107,060.84. Under the Missouri statutes the real property was not subject to the expenses of administration of the estate; hence, it formed no part of McDermott’s gross estate for Federal estate-tax purposes. Crooks v. Harrelson, 282 U. S. 55. The value of such realty, therefore, should be excluded in computing the estate tax.
Petitioners contend that the amount of the mortgage…
2Cases cited9 opinions
- Crooks v. HarrelsonSupreme Court of the United States · 1930
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- In Re ChapmanSupreme Court of the United States · 1897
- Lewellyn v. FrickSupreme Court of the United States · 1925
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3Cited by8 opinions
- Estate of Fawcett v. CommissionerUnited States Tax Court · 1975
- Estate of Courtney v. CommissionerUnited States Tax Court · 1974
- Newman v. CommissionerUnited States Board of Tax Appeals · 1933
- Estate of Courtney v. CommissionerUnited States Tax Court · 1974
- Estate of Fawcett v. CommissionerUnited States Tax Court · 1975
3 more not listed; retrieve them via the Exa API.