Estate of Howard v. Commissioner
United States Tax Court
A surviving spouse received an income interest in a trust. Under the terms of the trust, the income accumulating between the last distribution date and the surviving spouse's death passed to the remainder beneficiaries of the trust. Held, the trust is not a qualified terminable interest property trust. Sec. 2056(b)(7), I.R.C. 1954.
1Opinion of the Court
OPINION
TANNENWALD, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax of $673,884.43. The issue for decision is whether a trust for which an election had been made under section 2056(b)(7)1 relating to the marital deduction for qualified terminable interest property, was a qualified terminable interest property trust so as to be includable in decedent’s estate.2
The facts have been fully stipulated. The stipulation of facts and attached exhibits are incorporated herein by this reference.
Petitioner is the Estate of Rose D. Howard. Rose D. Howard is hereinafter referred…
2Cases cited12 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Sorenson v. Secretary of the TreasurySupreme Court of the United States · 1986
- Jackson v. United StatesSupreme Court of the United States · 1964
- Massachusetts Mutual Life Insurance v. United StatesSupreme Court of the United States · 1933
- Elizabeth Joan Allen and Alice Edna Stuhmer, Individually and as Executrices of the Estate of Chester A. Allen, Deceased v. United StatesCourt of Appeals for the Second Circuit · 1966
7 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Peterson Marital Trust v. CommissionerUnited States Tax Court · 1994
- Estate of Wallace v. CommissionerUnited States Tax Court · 1990
- Estate of Nicholson v. CommissionerUnited States Tax Court · 1990
- Estate of Shelfer v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1996
- Estate of Doherty v. Comm'rUnited States Tax Court · 1990
18 more not listed; retrieve them via the Exa API.