Bank of America Nat'l Trust & Sav. Asso. v. Commissioner
United States Board of Tax Appeals
ESTATE TAX - LIFE INSURANCE - COMMUNITY INCOME - CALIFORNIA. - Where the decedent, a resident of California, took out insurance upon his own life after July 29, 1927, and paid the premiums thereon from community income, the entire proceeds of the policies are part of the insured's gross estate for estate tax purposes. Newman v. Commissioner, 76 Fed.(2d) 449, affirming 29 B.T.A. 53; Estate of Julius C. Lang,34 B.T.A. 337, followed.
1Opinion of the Court
OPINION.
Leeci-i:
This case involves a deficiency in estate tax of $172.82. The question is whether the entire proceeds of certain life insurance policies should be included in the decedent’s gross estate for estate tax purposes, or only one-half thereof. The facts have been stipulated and are adopted by reference as our *685findings of fact. The essential facts are: The decedent and his wife were residents of California, where the community property law prevails. Section 161 (a) of the California Civil Code, which became effective July 29, 1927, provides:
- The respective interests of the husband…
2Cases cited5 opinions
- Poe v. SeabornSupreme Court of the United States · 1930
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Porter v. CommissionerSupreme Court of the United States · 1933
- United States v. MalcolmSupreme Court of the United States · 1931
- Warburton v. WhiteSupreme Court of the United States · 1900
3Cited by2 opinions
- Bank of America Nat'l Trust & Sav. Asso. v. CommissionerUnited States Board of Tax Appeals · 1936
- McDermand v. CommissionerUnited States Board of Tax Appeals · 1937