Louis v. Commissioner
United States Board of Tax Appeals
Petitioner acquired an annuity in consideration of a surrender of a part of her interest in her father's estate. Such annuity was terminated in the taxable year by the death of her mother, upon whose life expectancy it was based. Held, that the unrecovered cost of the annuity at date of termination was a loss in the year the contract was terminated.
1Opinion of the Court
CORA K. LOUIS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Louis v. Commissioner
Docket No. 49179.
United States Board of Tax Appeals
29 B.T.A. 1200; 1934 BTA LEXIS 1414;
February 23, 1934, Promulgated
Petitioner acquired an annuity in consideration of a surrender of a part of her interest in her father's estate. Such annuity was terminated in the taxable year by the death of her mother, upon whose life expectancy it was based. Held, that the unrecovered cost of the annuity at date of termination was a loss in the year the contract was terminated.
Theodore B. Benson, Esq., for the…
2Cases cited1 opinion
- Louis v. CommissionerUnited States Board of Tax Appeals · 1934