Trafton v. Commissioner
United States Tax Court
Charles A. Trafton and his wife, Ethel, conducted various businesses during the 45 years of their marriage. They had an oral agreement that whatever was earned or accumulated through their joint efforts subsequent to their marriage was to belong to them jointly. To effectuate this agreement Charles transferred securities to and purchased securities in their joint names during 1946, 1947, and other years.
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Charles A. Trafton and his wife, Ethel, conducted various businesses during the 45 years of their marriage. They had an oral agreement that whatever was earned or accumulated through their joint efforts subsequent to their marriage was to belong to them jointly. To effectuate this agreement Charles transferred securities to and purchased securities in their joint names during 1946, 1947, and other years. In 1946 Ethel transferred securities to and purchased certain securities in their joint names. Most of these securities had been inherited by Ethel from her parents or purchased with her…
1Opinion of the Court
Tietjens, Judge:
The Commissioner determined deficiencies in estate and gift taxes as follows:
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Certain adjustments were not contested by the petitioners. They claim an overpayment of estate and gift taxes. There are three issues for decision: (1) Whether Charles made gifts to Ethel in 1946 and 1947, when he transferred securities to and purchased securities in the joint names of himself and Ethel; (2) whether Ethel made a gift to Charles in 1946, when she transferred securities to and purchased securities in the joint names of herself and Charles; and (3) whether the total value…
2Cases cited4 opinions
- Harvey v. United StatesCourt of Appeals for the Seventh Circuit · 1950
- Richardson v. HelveringCourt of Appeals for the D.C. Circuit · 1935
- Berkowitz v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1939
- Rogan v. KammerdinerCourt of Appeals for the Ninth Circuit · 1944
3Cited by4 opinions
- Madden v. CommissionerUnited States Tax Court · 1969
- Estate of Powell v. CommissionerUnited States Tax Court · 1992
- Madden v. CommissionerUnited States Tax Court · 1969
- Trafton v. CommissionerUnited States Tax Court · 1956