Sullivan v. Commissioner
United States Tax Court
1. Held, on the facts, that division of the joint estate of decedent and wife into tenancy in common and transfer to their son were in contemplation of death. 2. The division of joint estate into tenancy in common, held, not a bona fide sale for adequate and full consideration in money or money's worth, within section 811 (c), Internal Revenue Code. 3. Held, that the properties transferred originally belonged to the decedent and not to his wife, within section 811 (e) (1),…
Read the full summary
1. Held, on the facts, that division of the joint estate of decedent and wife into tenancy in common and transfer to their son were in contemplation of death. 2. The division of joint estate into tenancy in common, held, not a bona fide sale for adequate and full consideration in money or money's worth, within section 811 (c), Internal Revenue Code. 3. Held, that the properties transferred originally belonged to the decedent and not to his wife, within section 811 (e) (1), Internal Revenue Code; held, further, that a withdrawal of money by the wife from a joint bank account shortly before…
1Opinion of the Court
OPINION.
Disney, Jvdge:
In his determination of the deficiency the respondent included the value of the property involved in the gift to the son on November 19, 1943, and in the agreement of November 24, 1943, between the decedent and his wife, in decedent’s gross estate as transfers made in contemplation of death. The notice of deficiency also recited that one-half of the value of the United States savings bonds, amount $25,013.80, including interest, which was not included in the estate tax return by petitioner, was included in the gross estate under the provisions of section 811 (e) of the…
2Cases cited11 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Tyler v. United StatesSupreme Court of the United States · 1930
- United States v. PelzerSupreme Court of the United States · 1941
- Allen v. Trust Co. of Ga.Supreme Court of the United States · 1946
- United States v. JacobsSupreme Court of the United States · 1939
6 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- Estate of Young v. CommissionerUnited States Tax Court · 1998
- Estate of Borner v. CommissionerUnited States Tax Court · 1955
- Baltimore National Bank v. United StatesDistrict Court, D. Maryland · 1955
- Rickenberg v. CommissionerUnited States Tax Court · 1948
- Becker v. CommissionerUnited States Tax Court · 1966
18 more not listed; retrieve them via the Exa API.