Hubbard v. Commissioner
United States Board of Tax Appeals
1. Where in 1935 a part of the income of an estate in process of administration or settlement was credited upon the executors' books to the residuary legatees but used by the executors to pay state inheritance tax, the credit and paying being made on the same day, the estate may not in its income tax return for 1935 deduct from gross income the amounts credited to the legatees. 2. Executors' commissions are an expense of administration and a legal deduction from the gross…
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1. Where in 1935 a part of the income of an estate in process of administration or settlement was credited upon the executors' books to the residuary legatees but used by the executors to pay state inheritance tax, the credit and paying being made on the same day, the estate may not in its income tax return for 1935 deduct from gross income the amounts credited to the legatees. 2. Executors' commissions are an expense of administration and a legal deduction from the gross estate in the determination of the net estate subject to estate tax. Where, as here, they were a percentage of the income…
1Opinion of the Court
ESTATE OF C. R. HUBBARD, DECEASED, NATIONAL BANK OF WEST VIRGINIA AND STELLA CRACRAFT, EXECUTORS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hubbard v. Commissioner
Docket No. 95691.
United States Board of Tax Appeals
41 B.T.A. 628; 1940 BTA LEXIS 1158;
March 21, 1940, Promulgated
1. Where in 1935 a part of the income of an estate in process of administration or settlement was credited upon the executors' books to the residuary legatees but used by the executors to pay state inheritance tax, the credit and paying being made on the same day, the estate may not in its income tax…
2Cases cited10 opinions
- Sparrow v. CommissionerUnited States Board of Tax Appeals · 1929
- Loetscher v. CommissionerUnited States Board of Tax Appeals · 1928
- Ayer v. CommissionerUnited States Board of Tax Appeals · 1932
- Grandin v. CommissionerUnited States Board of Tax Appeals · 1929
- Bendheim v. CommissionerUnited States Board of Tax Appeals · 1927
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