Estate of Paul C. Gribauskas v. Commissioner

116 T.C. No. 12

UNITED STATES TAX COURT ESTATE OF PAUL C. GRIBAUSKAS, DECEASED, ROY L. GRIBAUSKAS AND CAROL BEAUPARLANT, CO-EXECUTORS, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 3107-98. Filed March 8, 2001. In late 1992, D and his former spouse won a Connecticut LOTTO prize payable in 20 annual installments. At the time of his death in 1994, D was entitled to receive 18 further annual payments of $395,182.67 each. Held: The lottery payments must be included in D’s gross estate and valued for estate tax purposes through application of the actuarial tables prescribed…