Stevens v. Commissioner

opinion.

Teammell :

This proceeding involves a deficiency in estate tax in the amount of $27,554.52, of which only $15,056.24 is in controversy, the balance being admitted by the petitioners.

The sole issue involved is whether or not the value of certain property included in a trust instrument should be included in the gross estate of the decedent.

The decedent, John P. Stevens, died October 27, 1929, a resident of New Jersey, and the petitioners are his duly appointed executors.

On January 12, 1927, the decedent executed four trust indentures, designated in the stipulation as Nos. 1, 2, 3, and 4,…