Haines v. Commissioner
United States Board of Tax Appeals
During the taxable year petitioner made gifts of three insurance policies to her children. The policies were single premium life insurance policies, with definite cash surrender values provided. There were no paid up insurance additions to the policies or dividends credited to the policies at the time of the gifts. Held, that the surrender values of the policies at the time of the gifts represented their values for gift tax purposes. Ernest A. Cronin,37 B.T.A. 914, followed.
1Opinion of the Court
MARY H. HAINES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Haines v. Commissioner
Docket No. 87725.
United States Board of Tax Appeals
37 B.T.A. 1013; 1938 BTA LEXIS 954;
June 7, 1938, Promulgated
During the taxable year petitioner made gifts of three insurance policies to her children. The policies were single premium life insurance policies, with definite cash surrender values provided. There were no paid up insurance additions to the policies or dividends credited to the policies at the time of the gifts. Held, that the surrender values of the policies at the time of the gifts…
2Cases cited2 opinions
- Haines v. CommissionerUnited States Board of Tax Appeals · 1938
- Cronin v. CommissionerUnited States Board of Tax Appeals · 1938