Ross v. Commissioner
United States Tax Court
Petitioners made gifts in trust for the benefit of their minor grandchildren. Held, the term "heirs at law" is not equivalent to the term "estate" for purposes of sec. 2503(c)(2)(B), I.R.C. 1954, and, therefore, gifts in issue not eligible for annual exclusion.
1Opinion of the Court
Sterrett, Judge:
Respondent, on November 13, 1975, issued statutory notices to the petitioners herein in which he determined deficiencies in their Federal gift tax for the calendar quarter ended December 31, 1972, in the amount of $21,084.28 each. Respondent’s motions for leave to file an amendment to his answer and a second amendment to his answer were granted. After concessions by the parties, the sole issue for our determination is whether petitioners are entitled to exclusions as provided through application of section 2503(c), I.R.C. 1954, with respect to gifts made by them in trust…
2Cases cited2 opinions
- Clinard v. CommissionerUnited States Tax Court · 1963
- Heath v. CommissionerUnited States Tax Court · 1960
3Cited by2 opinions
- Cornelius A. Ross, and Effie H. Ross v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1981
- Ross v. CommissionerUnited States Tax Court · 1979