Estate of Monroe v. Commissioner
United States Tax Court
Decedent made various bequests in her will, including generation-skipping transfers in trust. Held: (1) Renunciations of legacies followed by payments from decedent's spouse were not disclaimers under sec. 2518(b), I.R.C., and renounced amounts were not part of the marital deduction. (2) Generation-skipping transfer taxes were chargeable to the property constituting the transfer, under sec. 2603(b), and did not reduce the marital deduction.
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Decedent made various bequests in her will, including generation-skipping transfers in trust. Held: (1) Renunciations of legacies followed by payments from decedent's spouse were not disclaimers under sec. 2518(b), I.R.C., and renounced amounts were not part of the marital deduction. (2) Generation-skipping transfer taxes were chargeable to the property constituting the transfer, under sec. 2603(b), and did not reduce the marital deduction. (3) The addition to tax for negligence, under sec. 6662, applies.
1Opinion of the Court
Cohen, Judge:
Respondent determined a deficiency of $3,652,947.52 in petitioner’s Federal estate tax and an addition to tax of $2,739,710.64 under section 6663. In the alternative, respondent determined that petitioner is liable for the addition to tax under section 6662. After trial, respondent conceded that petitioner is not liable for a section 6663 addition to tax. Unless otherwise indicated, all section references are to the Internal Revenue Code in effect as of the date of decedent’s death, and all Rule references are to the Tax Court Rules of Practice and Procedure.
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2Cases cited19 opinions
- Caminetti v. United StatesSupreme Court of the United States · 1917
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Malat v. RiddellSupreme Court of the United States · 1966
- Riggs v. Del DragoSupreme Court of the United States · 1942
- United States v. StewartSupreme Court of the United States · 1940
14 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- In Re Estate of Denman, Texas Court of Appeals, 4th District (San Antonio)2008
- Matter of Estate of MeyerIndiana Court of Appeals · 1998
- In re the Estate of TubbsCourt of Appeals of Kansas · 1995
- Estate of Green v. Comm'rUnited States Tax Court · 2003
- Barrett v. CommissionerUnited States Tax Court · 1996
8 more not listed; retrieve them via the Exa API.