Estate of Pullin v. Commissioner
United States Tax Court
At the time of his death, the decedent was a tenant in common with no right of survivorship in farm property with others who were not his heirs or devisees. Petitioner estate elected the special use valuation of this farm property under the provisions of sec. 2032A, I.R.C. 1954, but the agreements required by sec. 2032A(d)(2), I.R.C. 1954, were not signed by the surviving tenants in common.
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At the time of his death, the decedent was a tenant in common with no right of survivorship in farm property with others who were not his heirs or devisees. Petitioner estate elected the special use valuation of this farm property under the provisions of sec. 2032A, I.R.C. 1954, but the agreements required by sec. 2032A(d)(2), I.R.C. 1954, were not signed by the surviving tenants in common. Held: The surviving tenants in common had no interest in the "designated property" upon the death of decedent, and sec. 20.2032A-8(c)(2), Estate Tax Regs., is invalid by including as persons having an…
1Opinion of the Court
OPINION
Goffe, Judge:
The Commissioner determined a deficiency in petitioner’s Federal estate tax in the amount of $9,303.25. The sole issue for our decision1 is whether the written agreement filed by an estate, in electing the special valuation of farm property as required by section 2032A(a)(1)(B)2 and section 2032A(d)(2), must be executed not only by the beneficiaries of the decedent’s estate but also by persons who were tenants in common with the decedent in such farm property but who did not receive, under the terms of decedent’s will or otherwise, any interest in the property from the…
2Cases cited12 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- United States v. CartwrightSupreme Court of the United States · 1973
- National Muffler Dealers Assn., Inc. v. United StatesSupreme Court of the United States · 1979
- Jarecki v. G. D. Searle & Co.Supreme Court of the United States · 1961
- United States v. Vogel Fertilizer Co.Supreme Court of the United States · 1982
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- Estate of James U. Thompson, Deceased Susan T. Taylor, Personal Representative v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1989
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