Jardell v. Commissioner
United States Tax Court
Gifts on October 2, 1949, of shares in "royalty interest owned and to be paid or delivered to donor from the production of * * * minerals" but to become effective only as to production commencing January 1, 1950, held to consist of future interests precluding allowance of exclusions.
1Opinion of the Court
OPINION.
OppeR, Judge:
A deficiency in gift tax for 1949 of $5,625 is here in issue. The question is whether the subject matter of ten gifts made in that year consisted of future interests so as to preclude the $3,000 exclusions.
All of the facts have been stipulated and they are hereby found. Petitioner’s gift tax return for 1949 was filed with the collector of internal revenue for the district of Louisiana.
On October 2,1949, petitioner, by an Act of Donation, gave to each of her ten children a one-twentieth mineral royalty interest which reads in part as follows:
That she does by these…
2Cases cited2 opinions
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Hessenbruch v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1950
3Cited by4 opinions
- Hutchinson v. CommissionerUnited States Tax Court · 1967
- Robert E. Hamilton and Mary v. Hamilton v. United StatesCourt of Appeals for the Ninth Circuit · 1977
- Hutchinson v. CommissionerUnited States Tax Court · 1967
- Jardell v. CommissionerUnited States Tax Court · 1955