Estate of Walton v. Commissioner
United States Tax Court
Laura K. Walton received 150 acres of farmland located on the outskirts of Lexington, Kentucky, an undivided one-half interest passing to her by deed from her grandparents prior to March 1, 1913, subject to a life estate in her mother, the remaining undivided one-half interest passing to her by deed from her sister on February 8, 1943, after an agreement settling the mother's estate. Laura K. Walton had the land subdivided and developed, her husband and son acting for her.
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Laura K. Walton received 150 acres of farmland located on the outskirts of Lexington, Kentucky, an undivided one-half interest passing to her by deed from her grandparents prior to March 1, 1913, subject to a life estate in her mother, the remaining undivided one-half interest passing to her by deed from her sister on February 8, 1943, after an agreement settling the mother's estate. Laura K. Walton had the land subdivided and developed, her husband and son acting for her. Independent real estate agents sold the property by lots. Held, the property was not held for sale to customers in the…
1Opinion of the Court
Estate of Samuel B. Walton, Deceased, Laura K. Walton, Executrix, and Laura K. Walton v. Commissioner.
Estate of Walton v. Commissioner
Docket No. 64674.
United States Tax Court
T.C. Memo 1962-63; 1962 Tax Ct. Memo LEXIS 243; 21 T.C.M. (CCH) 346; T.C.M. (RIA) 62063;
March 23, 1962
Laura K. Walton received 150 acres of farmland located on the outskirts of Lexington, Kentucky, an undivided one-half interest passing to her by deed from her grandparents prior to March 1, 1913, subject to a life estate in her mother, the remaining undivided one-half interest passing to her by deed from her sister on…
2Cases cited13 opinions
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Ehrman v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1941
- Brown v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1944
- Chandler v. United StatesCourt of Appeals for the Seventh Circuit · 1955
- Garrett v. United StatesUnited States Court of Claims · 1954
8 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Kessel v. CommissionerUnited States Tax Court · 1970