Kearney v. Commissioner
United States Board of Tax Appeals
The taxpayer, an heir of a decedent, received cash from residuary legatees of the decedent under an agreement whereby the heirs agreed not to further contest the will and to allow it to stand. The amount was income, was not acquired by gift, devise, bequest, or inheritance, and was constitutionally taxed as income.
1Opinion of the Court
OPINION.
Murdock:
The Commissioner determined a deficiency of $4,580.88 in income tax for the year 1930. In the determination of this deficiency he added to the income reported on the taxpayer’s return $23,333.34 representing income received as a result of a compromise settlement of a proceeding to contest the will of Matthew O’Doherty. This action of the Commissioner is the only error assigned. The facts of record have been stipulated.
The petitioner ig an individual, residing at Louisville, Kentucky. He was a grandnephew of Matthew O’Doherty. The latter died testate on or about November 30,…
2Cases cited4 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Lynch v. HornbySupreme Court of the United States · 1918
- Cochran's Ex'or and Trustee v. CommonwealthCourt of Appeals of Kentucky (pre-1976) · 1931
- Sellars v. JonesCourt of Appeals of Kentucky · 1915
3Cited by6 opinions
- In Re Owl Drug Co.District Court, D. Nevada · 1937
- Magruder v. SegebadeCourt of Appeals for the Fourth Circuit · 1938
- Lyeth v. HoeyCourt of Appeals for the Second Circuit · 1938
- Lyeth v. HoeyDistrict Court, S.D. New York · 1937
- Continental Illinois Nat'l Bank & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1938
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