Legal Opinion
Foster’s Estate v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided November 10, 1942No. 10242PublishedCited by 20 opinions
1Opinion of the Court
McCORD, Circuit Judge.
The petition is for review of a decision of the Board of Tax Appeals determining the liability of the Estate of Anna M. B. Foster, as transferee, for a deficiency in income tax assessed for the year 1936 against the Estate of Abbie A. Sewell, deceased. The opinion of the Board is reported, 45 B.T.A. 126.
The taxpayer’s transferor, Abbie A. Sewell, was the beneficiary of a testamentary trust of $75,000 under the will of Elwin C. Foster who died in 1931. At the time of Foster’s death, his holdings consisted al most entirely of stocks and bonds which, because of depressed…
2Cases cited4 opinions
- White v. ThomasCourt of Appeals for the Fifth Circuit · 1940
- Foster v. CommissionerUnited States Board of Tax Appeals · 1941
- Harrison v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1941
- Wolf v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1936
3Cited by20 opinions
- Colony, Inc. v. CommissionerSupreme Court of the United States · 1958
- Lawrence v. CommissionerUnited States Tax Court · 1957
- Goldring v. CommissionerUnited States Tax Court · 1953
- George Slaff v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- William E. Davis, Former Collector of Internal Revenue for the District of Alabama v. C. B. Hightower, Jr.Court of Appeals for the Fifth Circuit · 1956
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