Brooks v. Commissioner
United States Tax Court
Decedent had been a participant in his employer's qualified profit-sharing plan, payable in the discretion of the trustees in a lump sum or in installments during a period not exceeding 180 months. Upon his retirement, decedent requested but was denied a lump-sum payment of his interest. Thereafter, decedent's share in the plan was placed in a separate account at decedent's risk, and decedent was allowed to suggest investments.
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Decedent had been a participant in his employer's qualified profit-sharing plan, payable in the discretion of the trustees in a lump sum or in installments during a period not exceeding 180 months. Upon his retirement, decedent requested but was denied a lump-sum payment of his interest. Thereafter, decedent's share in the plan was placed in a separate account at decedent's risk, and decedent was allowed to suggest investments. Decedent received no actual payments of his interest prior to his death. Held, no portion of decedent's interest in the plan is includable in his gross estate. Sec.…
1Opinion of the Court
Feati-ierston, Judge:
Respondent determined a deficiency in the Federal estate tax of petitioner, the Estate of Harold S. Brooks, in the amount of $81,792.41. One of the adjustments contained in the statutory notice of deficiency has been conceded by petitioner. The issue remaining for decision is whether any part of decedent’s interest in the W. H. Miner Profit Sharing Trust is includable in his gross estate under section 2033 or section 2039 (a) and (b), I.R.C. of 1954,1 or ex-cludable under section 2039 (c).
FINDINGS OF FACT
Some of the facts have been stipulated and are so found. The…
2Cases cited8 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- Avery v. CommissionerSupreme Court of the United States · 1934
- Commissioner of Internal Revenue v. OatesCourt of Appeals for the Seventh Circuit · 1953
- Wilson v. CommissionerUnited States Tax Court · 1963
- Albright v. CommissionerUnited States Tax Court · 1964
3 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Richard N. Gunnison and Vivian E. Gunnison v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1972
- Richardson v. CommissionerUnited States Tax Court · 1975
- Ancira v. Comm'rUnited States Tax Court · 2002
- Estate of William v. Schelberg, Sarah J. Schelberg v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1979
- McGaugh v. CommissionerCourt of Appeals for the Seventh Circuit · 2017
7 more not listed; retrieve them via the Exa API.