Legal Opinion
Eleanor M. Ballard v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided July 28, 1988No. 87-2641PublishedCited by 21 opinions
1Opinion of the Court
KANNE, Circuit Judge.
The Commissioner of the Internal Revenue Service assessed gift taxes against Eleanor M. Ballard and imposed a penalty for the late filing of her gift tax return. The taxpayer appealed to the tax court which upheld the imposition of the tax as well as the penalty. We reverse.
Mrs. Ballard entered into a Contract for Conditional Sale of Real Estate with her three children on June 23, 1981. Under the terms of the contract, the children each received a 33V3% interest in her 286-acre farm, which had a fair market value of $582,000.00. In return, the children agreed to pay Mrs.…
2Cases cited7 opinions
- United States v. BoyleSupreme Court of the United States · 1985
- United States v. Public Utilities CommissionSupreme Court of the United States · 1953
- Johansen v. United StatesSupreme Court of the United States · 1952
- Jackson v. CommissionerUnited States Tax Court · 1986
- Blackburn v. CommissionerUnited States Tax Court · 1953
2 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Frazee v. CommissionerUnited States Tax Court · 1992
- Estate of La Meres v. Comm'rUnited States Tax Court · 1992
- Charles Schusterman and Lynn N. Schusterman v. United StatesCourt of Appeals for the Tenth Circuit · 1995
- Peter E.C. Muserlian, Theodora Muserlian and Peter Muserlian v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1991
- Estate of Trenchard v. CommissionerUnited States Tax Court · 1995
16 more not listed; retrieve them via the Exa API.