Sharpe v. Commissioner
United States Board of Tax Appeals
Petitioner's maternal grandfather created a testamentary trust giving the net income thereof to his widow and children without limitation of time and without gift over of the corpus.
Read the full summary
Petitioner's maternal grandfather created a testamentary trust giving the net income thereof to his widow and children without limitation of time and without gift over of the corpus. Held, that petitioner's mother had a vested interest in here father's estate, the value of which was properly includable in her gross estate under section 302(a) of the Revenue Act of 1926; Held, further, that the deficiency was correctly and timely asserted against petitioner as the sole transferee of the assets of her mother's estate.
1Opinion of the Court
CATHARINE D. SHARPE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Sharpe v. Commissioner
Docket No. 82530.
United States Board of Tax Appeals
38 B.T.A. 502; 1938 BTA LEXIS 859;
September 9, 1938, Promulgated
Petitioner's maternal grandfather created a testamentary trust giving the net income thereof to his widow and children without limitation of time and without gift over of the corpus. Held, that petitioner's mother had a vested interest in here father's estate, the value of which was properly includable in her gross estate under section 302(a) of the Revenue Act of 1926; Held,…
2Cases cited13 opinions
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Smith T. v. BellSupreme Court of the United States · 1832
- Estate of TysonSupreme Court of Pennsylvania · 1899
- Byrne's EstateSupreme Court of Pennsylvania · 1935
- Burnet v. PorterSupreme Court of the United States · 1931
8 more not listed; retrieve them via the Exa API.