Field v. Commissioner
United States Tax Court
On June 8, 1922, decedent transferred property in trust, in all of which he retained a possibility of reverter until his death. He died on November 16, 1937. Held, the measure of the decedent's estate for estate tax purposes includes the value of the entire trust corpus at his death. Sec. 302 (c), Revenue Act of 1926, as amended by sec. 803 (a), Revenue Act of 1932; Helvering v. Hallock, 309 U.S. 106; Smith v. Shaughnessy, 318 U.S. 176.
1Opinion of the Court
OPINION.
Leech. -Judge:
Respondent determined a deficiency of $4,782.82 in estate tax by. inter alia, including in the value of decedent’s estate the entire value of the corpus of an inter vivos trust created by the petitioner's decedent in 1922. Petitioner asks a finding of an overpayment of $25.684.23. The propriety of that action of respondent is the only issue here. The estate tax return was filed with the collector for the second district of New York.
The facts were stipulated and are so found.
Decedent died on November 16. 1937, at the age of 52 years. On June 8, 1922. he transferred to…
2Cases cited4 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Palmer v. MassachusettsSupreme Court of the United States · 1939
- Smith v. ShaughnessySupreme Court of the United States · 1943
- Robinette v. HelveringSupreme Court of the United States · 1943
3Cited by16 opinions
- Commissioner v. Estate of FieldSupreme Court of the United States · 1945
- Frances Biddle Trust v. CommissionerUnited States Tax Court · 1944
- Barnett Hollander, of the Will of Lester Field, Deceased v. United StatesCourt of Appeals for the Second Circuit · 1957
- Kolb v. CommissionerUnited States Tax Court · 1945
- Gaston Estate v. CommissionerUnited States Tax Court · 1943
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