Alston v. Commissioner
United States Tax Court
The petitioner is the executrix of the estate of her deceased husband and also the sole residuary legatee. The decedent's will was probated in 1938. At the end of 1940 the executrix of the estate had not recovered one asset of the estate which had been pledged by the decedent to secure the indebtedness of another.
Read the full summary
The petitioner is the executrix of the estate of her deceased husband and also the sole residuary legatee. The decedent's will was probated in 1938. At the end of 1940 the executrix of the estate had not recovered one asset of the estate which had been pledged by the decedent to secure the indebtedness of another. Nevertheless, the respondent determined that the estate was not in process of administration after December 31, 1940, and that, therefore, the income of the year 1941 which had been reported as taxable to the estate was taxable to petitioner as the sole beneficiary. Held, that the…
1Opinion of the Court
OPINION.
Hareon, Judge:
Under section 161 (a) (3) of the Internal Revenue Code an estate is a taxable entity “during the period of administration or settlement of the estate.” The Commissioner, by section 19.162-1 of Regulations 103, has construed the statutory provisions as follows:
* * * The period of administration or settlement of the estate is the period required by the executor or administrator to perform the ordinary duties pertaining-’to administration, in particular the collection of assets and the payment of debts and legacies. It is the time actually required for this purpose, whether…
2Cases cited3 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Chick v. CommissionerUnited States Tax Court · 1946
- Armstrong v. CommissionerUnited States Tax Court · 1943
3Cited by10 opinions
- Farrier v. CommissionerUnited States Tax Court · 1950
- Caratan v. CommissionerUnited States Tax Court · 1950
- McCauley v. United StatesDistrict Court, E.D. Arkansas · 1961
- Maresca Trust v. CommissionerUnited States Tax Court · 1983
- Hirsch v. CommissionerUnited States Tax Court · 1947
5 more not listed; retrieve them via the Exa API.