Estate of Gloria A. Lion, Deceased, Morton E. Rome and George L. Clarke, Executors v. Commissioner of Internal Revenue

WINTER, Circuit Judge:

In this appeal we must decide if the taxpayer is entitled to an estate tax credit under 26 U.S.C.A. § 2013 for property previously subjected to estate tax. The credit claimed is for a life estate in a residuary trust created by decedent’s husband with whom she died in a common accident. The Commissioner disallowed the credit and the Tax Court sustained him. 1 We think the Tax Court correctly decided the case, and we affirm.

I

The stipulated facts, as found by the Tax Court, may be succinctly stated: On May 12, 1963, Gloria A. Lion and her husband were both killed in an…