Heywood v. Commissioner
United States Board of Tax Appeals
1. Charitable contributions are not deductible by estates in the computation of net income unless paid or permanently set aside pursuant to the terms of the will. 2. The value of depreciable assets at the date of decedent's death should be used as the basis for determining the depreciation deductible by his estate. 3. The petitioners paid certain legacies from the income of the decedent's estate, the will making no provision as to the source from which the payments should be…
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1. Charitable contributions are not deductible by estates in the computation of net income unless paid or permanently set aside pursuant to the terms of the will. 2. The value of depreciable assets at the date of decedent's death should be used as the basis for determining the depreciation deductible by his estate. 3. The petitioners paid certain legacies from the income of the decedent's estate, the will making no provision as to the source from which the payments should be made. Held, that the amounts of said payments are not deductible under section 219(c) of the Revenue Act of 1921 in the…
1Opinion of the Court
ELIZABETH GUTHRIE HEYWOOD AND JOHN GUTHRIE HEYWOOD, EXECUTRIX AND EXECUTOR OF THE ESTATE OF ABBOT R. HEYWOOD, DECEASED, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Heywood v. Commissioner
Docket No. 12825.
United States Board of Tax Appeals
11 B.T.A. 29; 1928 BTA LEXIS 3879;
March 16, 1928, Promulgated
1. Charitable contributions are not deductible by estates in the computation of net income unless paid or permanently set aside pursuant to the terms of the will.
2. The value of depreciable assets at the date of decedent's death should be used as the basis for determining the…
2Cases cited2 opinions
- Appeal of Estate of TylerUnited States Board of Tax Appeals · 1927
- Heywood v. CommissionerUnited States Board of Tax Appeals · 1928