Goldsmith v. Commissioner
United States Board of Tax Appeals
The decedent during his lifetime conveyed residential property to his sister. It was understood that their mother, who was then 82 years of age, should have the right to occupy the premises so long as she lived and that the decedent would maintain the property and pay the taxes thereon during her lifetime. He paid all such expenses up to the time of his death.
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The decedent during his lifetime conveyed residential property to his sister. It was understood that their mother, who was then 82 years of age, should have the right to occupy the premises so long as she lived and that the decedent would maintain the property and pay the taxes thereon during her lifetime. He paid all such expenses up to the time of his death. Thereafter a claim was presented against his estate covering amounts expended for taxes and upkeep of the property after decedent's death, and for an additional amount to cover further expenditures of that character during the remaining…
1Opinion of the Court
*1205OPINION.
TURNER:
The only issue presented is whether the guardian fee and claim paid by the petitioners are deductible from the gross estate of the decedent under section 303 (a) (1) of the Revenue Act of 1926.1 The respondent rests the disallowance of the deduction on the ground that the claim was not “incurred or contracted * * * for an adequate and full consideration in money or money’s worth.”
While the reasoning in the cases construing the provisions of the statute referred to above may not be in complete harmony, certain conclusions may be drawn from the decided cases and now regarded as…
2Cited by13 opinions
- Tiffany v. CommissionerUnited States Tax Court · 1967
- Estate of Davis v. CommissionerUnited States Tax Court · 1972
- Britenstool v. CommissionerUnited States Tax Court · 1966
- In Re Estate of MathaySupreme Court of Pennsylvania · 1975
- Britenstool v. CommissionerUnited States Tax Court · 1966
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