Crary v. Commissioner
United States Board of Tax Appeals
Deduction under section 403(a)(2), Revenue Act of 1921, for previously-taxed property should not be reduced by amounts deductible under subdivisions (1) and (3) merely because such items were paid out of previously-taxed property but did not exceed in amount the value of property not previously taxed. Hepburn's Estate,11 B.T.A. 1386, followed.
1Opinion of the Court
OPINION.
Sternhagen:
The sole issue is whether the deduction under section 403 (a) (2) of the Revenue Act of 1921 of the value of prior-taxed property, may be reduced by the amount of $125,875.15, representing items deductible under subdivisions (1) and (3), merely *635because such items were in fact paid out of property which was identified as previously taxed, although they did not exceed in amount the value of the independent estate of the decedent. From the presentation of the case on this issue alone, we assume that there is no other question such as that in Butteworth’s Estate, 6 B. T. A. 125.
2Cited by1 opinion
- Crary v. CommissionerUnited States Board of Tax Appeals · 1930