Legal Opinion
Estate of Lulu K. Flandreau, Deceased, Richard Knies v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided May 26, 1993No. 1254, Docket 92-4182PublishedCited by 7 opinions
1Opinion of the Court
LOKEN, Circuit Judge:
The Estate of Lulu K. Flandreau appeals a decision of the United States Tax Court, Clapp, J., denying the Estate an estate tax deduction under I.R.C. § 2053 for the unpaid balance of promissory notes executed by decedent payable to her sons and daughters-in-law. Estate of Flandreau v. Commissioner, T.C. Memo 1992-173, 63 T.C.M. (CCH) ¶ 2512 (1992). We affirm.
I
I.R.C. § 2053(a)(3) provides an estate tax deduction “for claims against the estate.” A deduction “founded on a promise or agreement,” however, is “limited to the extent that [the claims] were contracted bona fide…
2Cases cited8 opinions
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Badaracco v. CommissionerSupreme Court of the United States · 1984
- E. I. Dupont De Nemours & Co. v. DavisSupreme Court of the United States · 1924
- Johnson v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1936
- Guaranty Trust Co. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1938
3 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Estate of Lydia G. Maxwell, Deceased First National Bank of Long Island Victor C. McCuaig Jr., Executors v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1993
- Brown v. United StatesCourt of Appeals for the Ninth Circuit · 2003
- Meyer v. South Dakota Department of Social ServicesSouth Dakota Supreme Court · 1998
- Brown v. United StatesCourt of Appeals for the Ninth Circuit · 2003
- Estate of Musgrove v. United StatesUnited States Court of Federal Claims · 1995
2 more not listed; retrieve them via the Exa API.