Estate of Wood v. Commissioner
United States Tax Court
Transfer of securities to church in trust to provide for perpetual care of transferor's plot in church cemetery held, not deductible as charitable contribution within meaning of section 170, I.R.C. 1954. Held, further, transaction resulted in taxable capital gain to transferor.
1Opinion of the Court
Estate of Willis D. Wood, Deceased, Lawrence A. Baker, et al., Executors, and Anna M. Wood, Petitioners, v. Commissioner of Internal Revenue, Respondent
Estate of Wood v. Commissioner
Docket No. 87550
United States Tax Court
39 T.C. 1; 1962 U.S. Tax Ct. LEXIS 61;
October 1, 1962, Filed
Decision will be entered under Rule 50.
Transfer of securities to church in trust to provide for perpetual care of transferor's plot in church cemetery held, not deductible as charitable contribution within meaning of section 170, I.R.C. 1954. Held, further, transaction resulted in taxable capital gain to transferor.
La…
2Cases cited17 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Automobile Club of Mich. v. CommissionerSupreme Court of the United States · 1957
- United States v. DavisSupreme Court of the United States · 1962
- United States v. PelzerSupreme Court of the United States · 1941
- Eli D. Goodstein v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Eli D. GoodsteinCourt of Appeals for the First Circuit · 1959
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