Estate of Shelfer v. Commissioner
United States Tax Court
A surviving spouse, S, received an income interest in a trust. The income was payable to S in quarterly installments. Under the terms of the trust, the income accumulating between the last distribution date and the date of S's death passed to the remainder beneficiary of the trust. Held, the trust is not qualified terminable interest property under sec. 2056(b)(7), I.R.C.Estate of Howard v. Commissioner, 91 T.C. 329 (1988), revd. 910 F.2d 633 (9th Cir. 1990), followed.
1Opinion of the Court
Laro, Judge:
This case is before the Court pursuant to a petition filed by the Estate of Lucille P. Shelfer, Deceased (petitioner), the Quincy State Bank, personal representative for a redetermination of respondent’s determination of a $1,321,638.30 deficiency in Federal estate tax. Pursuant to Rule 122(a),1 the parties submitted this case to the Court without trial; the record consists of the pleadings and stipulated facts with accompanying exhibits.
After a concession by petitioner,2 the issue for decision is whether a trust for which an election had been made under section 2056(b)(7) to…
2Cases cited10 opinions
- Consumer Product Safety Commission v. GTE Sylvania, Inc.Supreme Court of the United States · 1980
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Scott v. CommissionerUnited States Tax Court · 1985
- Estate of Doherty v. Comm'rUnited States Tax Court · 1990
- Estate of Howard v. CommissionerUnited States Tax Court · 1988
5 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Estate of Shelfer v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1996
- Estate of Letts v. CommissionerUnited States Tax Court · 1997
- Estate of Cavenaugh v. CommissionerCourt of Appeals for the Fifth Circuit · 1995
- City of Santa Rosa, California v. CommissionerUnited States Tax Court · 2003
- Estate of Cavenaugh v. CommissionerCourt of Appeals for the Fifth Circuit · 1995
8 more not listed; retrieve them via the Exa API.