Brown v. Commissioner
United States Tax Court
Deduction -- Loss -- Owner -- Estate or Beneficiaries -- Conversion of Real Property. -- Held, no conversion of real property was effected by will and residuary legatees may deduct loss on real property which they, joined by executor, sold.
1Opinion of the Court
OPINION.
Murdock, Judge:
The parties agree that decision of this case turns entirely upon the question of whether the will of the decedent equitably converted the real property at 523 Wood Street into personalty so the title thereto was in the estate of the decedent and the loss was the loss of the estate rather than the loss of the residuary beneficiaries under the will. They also agree that that question is to be determined by interpreting the will itself under the laws of Pennsylvania to determine the intention of the testator. Arrott v. Heiner, 92 F. 2d 773. They both cite and rely upon…
2Cases cited11 opinions
- Hunt's AppealsSupreme Court of Pennsylvania · 1884
- Tombs EstateSuperior Court of Pennsylvania · 1944
- Yerkes v. YerkesSupreme Court of Pennsylvania · 1901
- Fahnestock v. FahnestockSupreme Court of Pennsylvania · 1892
- Shaffer v. ShafferSupreme Court of Pennsylvania · 1946
6 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Brown v. CommissionerUnited States Tax Court · 1953