Farmers Loan & Trust Co. v. Commissioner
United States Board of Tax Appeals
The taxpayer as administrator made return and paid tax on the transfer of the estate of Nathaniel Whitman in the year 1919 and claims the right to deduct the said tax from its return of income for the estate for the period in which the tax was paid. Held, that the New York State transfer tax was a proper deduction from income of an estate and that said tax is not deductible by the beneficiaries thereof.
1Opinion of the Court
APPEAL OF FARMERS LOAN & TRUST CO., ADMINISTRATOR, ESTATE OF NATHANIEL WHITMAN.
Farmers Loan & Trust Co. v. Commissioner
Docket No. 1399.
United States Board of Tax Appeals
3 B.T.A. 97; 1925 BTA LEXIS 2037;
November 20, 1925, Decided Submitted March 18, 1925.
The taxpayer as administrator made return and paid tax on the transfer of the estate of Nathaniel Whitman in the year 1919 and claims the right to deduct the said tax from its return of income for the estate for the period in which the tax was paid. Held, that the New York State transfer tax was a proper deduction from income of an estate and…
2Cases cited1 opinion
- Farmers Loan & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1925