Stern v. Commissioner
United States Board of Tax Appeals
1. In allowing deductions from the gross estate in computing estate taxes, Congress did not intend that determination of the tax should await final settlement of the estate and a reduction to absolute certainty of all claims against it. 2. Deductions for executors' commission may be based upon a reasonable estimate of the amount allowable by the lex domicillii and it is not essential that such commissions be first allowed by order of court or paid. 3. In a case heard on…
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1. In allowing deductions from the gross estate in computing estate taxes, Congress did not intend that determination of the tax should await final settlement of the estate and a reduction to absolute certainty of all claims against it. 2. Deductions for executors' commission may be based upon a reasonable estimate of the amount allowable by the lex domicillii and it is not essential that such commissions be first allowed by order of court or paid. 3. In a case heard on petition and answer, the value of assets of an estate, based upon the price for which they were sold by the executors, will…
1Opinion of the Court
*104OPINION.
James:
Aside from tbe admitted errors of tlie Commissioner in this proceeding, there are two issues of substance: First, whether the value placed by the Commissioner upon the Hotel Richelieu should be reduced on account of the allegations of the taxpayer; and, second, whether the taxpayer should be allowed a deduction on account of executors’ commissions prior to the actual allowance or payment of the same in connection with the administration of the estate.
On the first point there is manifestly no evidence before the Board upon which any finding can be made that the interest of the…
2Cited by5 opinions
- Lamport v. CommissionerUnited States Board of Tax Appeals · 1933
- Degener v. CommissionerUnited States Board of Tax Appeals · 1932
- Jackson v. CommissionerUnited States Board of Tax Appeals · 1930
- Loetscher v. CommissionerUnited States Board of Tax Appeals · 1928
- Stern v. CommissionerUnited States Board of Tax Appeals · 1925