ESTATE OF Mc CAMMON v. COMMISSIONER
United States Tax Court
In 1965, decedent and his wife opened up a joint savings account, the funds for which were provided by decedent. On March 26, 1974, decedent's wife withdrew all the funds from the account and deposited them in a savings account in her name alone, in a transaction which constituted a gift, for Federal gift tax purposes. Decedent died on March 25, 1975. Held: The above-described transfer was not made in contemplation of decedent's death. Sec. 2035, I.R.C. 1954(pre-1977).
1Opinion of the Court
ESTATE OF JOHN A. Mc CAMMON, DECEASED, ELSIE L. Mc CAMMON, EXECUTRIX, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ESTATE OF Mc CAMMON v. COMMISSIONER
Docket No. 13633-78.
United States Tax Court
T.C. Memo 1980-327; 1980 Tax Ct. Memo LEXIS 257; 40 T.C.M. (CCH) 1028;
August 20, 1980, Filed
In 1965, decedent and his wife opened up a joint savings account, the funds for which were provided by decedent. On March 26, 1974, decedent's wife withdrew all the funds from the account and deposited them in a savings account in her name alone, in a transaction which constituted a gift, for Federal…
2Cases cited5 opinions
- Fusz v. CommissionerUnited States Tax Court · 1966
- Estate of Zaiger v. CommissionerUnited States Tax Court · 1975
- Wilson v. Comm'rUnited States Tax Court · 1971
- Estate of Green v. CommissionerUnited States Tax Court · 1975
- Florence A. Haneke v. United States of America, Florence A. Haneke v. United StatesCourt of Appeals for the Fourth Circuit · 1977