Estate of Miller v. Commissioner
United States Tax Court
Decedent received amounts from a corporation of which he was principal shareholder. He repaid certain of these amounts. In 1962 he received the last of these amounts and the corporation computed a balance. That balance still was unpaid when decedent died, in 1970, and the corporation failed to file a claim against petitioner in the probate court proceedings. Held, the receipts constituted loans, and not dividends, to decedent.
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Decedent received amounts from a corporation of which he was principal shareholder. He repaid certain of these amounts. In 1962 he received the last of these amounts and the corporation computed a balance. That balance still was unpaid when decedent died, in 1970, and the corporation failed to file a claim against petitioner in the probate court proceedings. Held, the receipts constituted loans, and not dividends, to decedent. Held,further, the indebtedness arising from the loans was discharged, giving rise to income to petitioner under section 61(a)(12).
1Opinion of the Court
ESTATE OF MYRON M. MILLER, DECEASED, HILDA E. MILLER, EXECUTRIX, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Estate of Miller v. Commissioner
Docket No. 6845-76.
United States Tax Court
T.C. Memo 1978-374; 1978 Tax Ct. Memo LEXIS 141; 37 T.C.M. (CCH) 1547; T.C.M. (RIA) 78374;
September 19, 1978, Filed
Decedent received amounts from a corporation of which he was principal shareholder. He repaid certain of these amounts. In 1962 he received the last of these amounts and the corporation computed a balance. That balance still was unpaid when decedent died, in 1970, and the corporation…
2Cases cited7 opinions
- Meyer v. CommissionerUnited States Board of Tax Appeals · 1941
- Cohen v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1935
- Rita G. Shephard, Guardian of Susan Shephard v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1965
- Cohen v. CommissionerUnited States Board of Tax Appeals · 1933
- Shaken v. CommissionerUnited States Tax Court · 1954
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Bullock v. Comm'rUnited States Tax Court · 2017