Fahs v. Merrill

The whole case turns upon Section 503 of the Revenue Act of 1932 which provides that where property is transferred for less than an adequate and a full consideration in money or money’s worth the amount by which the value, of the property exceeded the consideration shall be deemed a gift and subject to the Federal Gift Tax.

Perplexity arises in the present case as to which transfer of property we should concern ourselves with—the transfer of dower, and kindred rights by the wife, or the transfer of money by the husband. The majority opinion determines the case from the standpoint of a transfer…