Davison v. Commissioner
United States Board of Tax Appeals
DEDUCTIONS. - ESTATES. - BEQUESTS TO CHARITY. - Petitioner's decedent created a trust by his will, the income payable to his widow for life, with certain remainder interests to charitable institutions upon her death, granting to her, however, a power of appointment by her will as to the total trust estate. More than five years after decedent's death his widow formally renounced the power granted.
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DEDUCTIONS. - ESTATES. - BEQUESTS TO CHARITY. - Petitioner's decedent created a trust by his will, the income payable to his widow for life, with certain remainder interests to charitable institutions upon her death, granting to her, however, a power of appointment by her will as to the total trust estate. More than five years after decedent's death his widow formally renounced the power granted. Held, that as of decedent's death, the estates bequeathed to charities, being subject to defeat through exercise of the power, had no determinable value, and, furthermore, there being no certainty,…
1Opinion of the Court
*102OPINION.
Leech:
This proceeding seeks redetermination of a deficiency of $30,319.06 in estate tax determined by respondent against petitioner as executor of the estate of Roswell Eldridge, deceased.
Three errors are assigned. The first is upon respondent’s action in including in decedent’s gross estate $6,840, as representing the value of certain real estate in Texas, and is disposed of by the stipulation of the parties that the correct amount subject to inclusion under this item is $3,420. The second is upon respondent’s action in including in the gross estate $481,650, as the value of certain…
2Cases cited20 opinions
- Knowlton v. MooreSupreme Court of the United States · 1900
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- New York Trust Co. v. EisnerSupreme Court of the United States · 1921
- Weiss v. WeinerSupreme Court of the United States · 1929
- Young Men's Christian Assn. of Columbus v. DavisSupreme Court of the United States · 1924
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3Cited by4 opinions
- Seder v. CommissionerUnited States Tax Court · 1973
- Davison v. CommissionerUnited States Board of Tax Appeals · 1934
- Seder v. CommissionerUnited States Tax Court · 1973
- Smith v. CommissionerUnited States Board of Tax Appeals · 1934