Ackley v. Commissioner
United States Tax Court
Decedent was the sole legatee and executor of the estate of his brother who died less than 5 years prior to decedent. Decedent's estate contained assets from his brother's estate, having a value in excess of the net value of the brother's estate after deductions of debts, Federal estate, and State inheritance taxes. The brother's estate had earned income during its administration.
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Decedent was the sole legatee and executor of the estate of his brother who died less than 5 years prior to decedent. Decedent's estate contained assets from his brother's estate, having a value in excess of the net value of the brother's estate after deductions of debts, Federal estate, and State inheritance taxes. The brother's estate had earned income during its administration. Petitioners claimed the value of the assets of decedent's brother, actually held by them, as the deduction for previously taxed property allowable to decedent's estate as provided in section 812 (c) of the Internal…
1Opinion of the Court
OPINION.
Rice, Judge:
This proceeding involves a deficiency in Federal estate taxes of $35,758.79 determined against, the Estate of Roswell G. Ackley.
The sole issue is the proper amount of a deduction for previously taxed property, as provided in section 812 (c) of the Internal Revenue Code of 1939,1 allowable to the estate of the decedent who died within 5 years after the death of his brother and who was the brother’s sole legatee.
The parties have stipulated that the petitioners will incur and pay additional administration and litigation expenses, and attorney’s fees, not heretofore allowed,…
2Cases cited9 opinions
- Central Hanover B. & T. Co. v. Commissioner of Int. Rev.Court of Appeals for the Second Circuit · 1947
- First Nat. Bank of Chicago v. HartIllinois Supreme Court · 1943
- Bahr v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1941
- Commissioner v. GarlandCourt of Appeals for the First Circuit · 1943
- Bloedorn v. United StatesUnited States Court of Claims · 1953
4 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Gilruth v. CommissionerUnited States Tax Court · 1968
- Estate of Whittle v. CommissionerUnited States Tax Court · 1991
- Plessen v. CommissionerUnited States Tax Court · 1956
- Bank of America National Trust & Savings Ass'n v. United StatesDistrict Court, N.D. California · 1955
- Manship v. United StatesDistrict Court, E.D. Louisiana · 1958
6 more not listed; retrieve them via the Exa API.