Touche v. Commissioner
United States Tax Court
In 1966 petitioner purportedly transferred by deed of gift a 5.25-percent interest in certain property to each of four donees and in 1967 she purportedly transferred a 2.1-percent interest in such property in the same fashion. In preparing the deeds of gift, petitioner's attorney made a mistake in calculating the percentage interest to be transferred. At the time of such deeds of gift, petitioner intended to transfer only one-half of the aforementioned percentage interests.
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In 1966 petitioner purportedly transferred by deed of gift a 5.25-percent interest in certain property to each of four donees and in 1967 she purportedly transferred a 2.1-percent interest in such property in the same fashion. In preparing the deeds of gift, petitioner's attorney made a mistake in calculating the percentage interest to be transferred. At the time of such deeds of gift, petitioner intended to transfer only one-half of the aforementioned percentage interests. Held, under Texas law, by virtue of petitioner's unilateral mistake, she transferred only bare legal title to one-half…
1Opinion of the Court
TaNNKNWald, Judge:
Respondent determined deficiencies in the Federal gift tax of petitioner as follows:
Tear Deficiency
1966 _ $958.82
1967 _1,143.71
The only issue before the Court is whether petitioner made gifts during the years in question in excess of the annual exclusion provided by section 2503(b)1 and the lifetime exemption provided by section 2521.
FINDINGS OF FACT
Some of the facts have been stipulated and, along with the exhibits in support thereof, are incorporated herein by this reference.
Petitioner is a United States citizen who resided in Chihuahua, Mexico, at the time her petition…
2Cases cited9 opinions
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Arnold Van Den Wymelenberg, as of the Estate of Eleanor Van Den Wymelenberg, and Arnold Van Den Wymelenberg v. United StatesCourt of Appeals for the Seventh Circuit · 1968
- Nina N. Dodge, Also Known as Nina N. (Dodge) Cullinan v. United StatesCourt of Appeals for the Fifth Circuit · 1969
- Grundy v. GreeneCourt of Appeals of Texas · 1918
- Era Davis Harris v. Commissioner of Internal Revenue, Fay Davis Clarke v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1972
4 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Estate of Hill v. CommissionerUnited States Tax Court · 1975
- Berger v. United StatesDistrict Court, W.D. Pennsylvania · 1980
- Bergeron v. CommissionerUnited States Tax Court · 1986
- Estate of Hill v. CommissionerUnited States Tax Court · 1975
- Touche v. CommissionerUnited States Tax Court · 1972