Estate of Levitt v. Commissioner
United States Tax Court
On June 12, 1975, D executed a trust agreement and made an inter vivos transfer of certain property to the trust. On Mar. 6, 1978, D amended the trust agreement in its entirety. The amended trust agreement contains a formula which refers to the maximum marital deduction. D died intestate on May 13, 1985. Held, the formula in the trust is not the type of "formula" contemplated by sec. 403(e)(3), Economic Recovery Tax Act of 1981, Pub.
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On June 12, 1975, D executed a trust agreement and made an inter vivos transfer of certain property to the trust. On Mar. 6, 1978, D amended the trust agreement in its entirety. The amended trust agreement contains a formula which refers to the maximum marital deduction. D died intestate on May 13, 1985. Held, the formula in the trust is not the type of "formula" contemplated by sec. 403(e)(3), Economic Recovery Tax Act of 1981, Pub. L. 97-34, 95 Stat. 305 (sec. 403(e)(3)). Held, further: Sec. 403(e)(3) does not preclude P from qualifying for an unlimited marital deduction under I.R.C. sec.…
1Opinion of the Court
Estate of Samuel I. Levitt, Deceased, Helen S. Levitt, Administrator, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Levitt v. Commissioner
Docket No. 28680-88
United States Tax Court
95 T.C. 289; 1990 U.S. Tax Ct. LEXIS 87; 95 T.C. No. 22;
September 13, 1990, Filed
Decision will be entered under Rule 155.
On June 12, 1975, D executed a trust agreement and made an inter vivos transfer of certain property to the trust. On Mar. 6, 1978, D amended the trust agreement in its entirety. The amended trust agreement contains a formula which refers to the maximum marital deduction. D…
Also in this document: Concurrence · Chabot; Concurrence · Wells; Dissent.
2Cases cited24 opinions
- Nebbia v. New YorkSupreme Court of the United States · 1934
- Henslee v. Union Planters National Bank & Trust Co.Supreme Court of the United States · 1949
- Commissioner v. KowalskiSupreme Court of the United States · 1977
- Ridder v. CommissionerUnited States Tax Court · 1981
- Laurence M. And Phyllis W. Carlson v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1983
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