Thompson v. Commissioner
United States Board of Tax Appeals
The petitioner, who owned real estate in Kansas City, Missouri, made a gift of it in 1934 to a trustee for the benefit of her children. Her husband joined in the deed of conveyance. The petitioner returned it for gift tax purposes at the full value less an amount which it was estimated was the value of the husband's inchoate curtesy interest. The husband made a gift tax return of the estimated value of his inchoate curtesy interest.
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The petitioner, who owned real estate in Kansas City, Missouri, made a gift of it in 1934 to a trustee for the benefit of her children. Her husband joined in the deed of conveyance. The petitioner returned it for gift tax purposes at the full value less an amount which it was estimated was the value of the husband's inchoate curtesy interest. The husband made a gift tax return of the estimated value of his inchoate curtesy interest. The respondent has determined that the petitioner is liable to tax upon the entire value of the property. Held, that the petitioner is liable to gift tax upon the…
1Opinion of the Court
OPINION.
Smith :
This is a proceeding for the redetermination of a gift tax for 1934 in the amount of $752.84. The question in issue is whether the petitioner is taxable upon the total value of the gift made by herself and her husband to a trustee for the benefit of their children, or upon that value reduced by the estimated value of the inchoate right of curtesy1 of the husband in the real estate conveyed.
The petitioner is a resident of Kansas City, Missouri. She was married to E. H. Leo Thompson on September 28, 1898, and has been at all times since, and is now, his lawful wedded wife.
On…
2Cases cited16 opinions
- Peyroux and Others v. HOWARD AND VARION.Supreme Court of the United States · 1833
- Hollingsworth Magniac v. ThompsonSupreme Court of the United States · 1833
- Walker's Administrator v. DeaverSupreme Court of Missouri · 1883
- Tebeau v. RidgeSupreme Court of Missouri · 1914
- Ferguson v. DicksonCourt of Appeals for the Third Circuit · 1924
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3Cited by2 opinions
- Hopkins v. MagruderDistrict Court, D. Maryland · 1940
- Thompson v. CommissionerUnited States Board of Tax Appeals · 1938