Estate of McGauley v. Commissioner
United States Tax Court
Pursuant to settlement of a will contest, the estate transferred property to certain heirs who challenged the will. Held, such property is not includable in the property transferred to the beneficiary under the will for purposes of the credit under sec. 2013, I.R.C. 1954; held, further, property transferred by the beneficiary to another heir who did not challenge the will was a gift not excludable from the property transferred by the estate for purposes of the credit under…
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Pursuant to settlement of a will contest, the estate transferred property to certain heirs who challenged the will. Held, such property is not includable in the property transferred to the beneficiary under the will for purposes of the credit under sec. 2013, I.R.C. 1954; held, further, property transferred by the beneficiary to another heir who did not challenge the will was a gift not excludable from the property transferred by the estate for purposes of the credit under sec. 2013.
1Opinion of the Court
OPINION
Simpson, Judge:
The respondent determined a deficiency of $26,-668.04: in the petitioner’s estate tax. Due to concessions, the only issue remaining for decision is whether certain property was transferred to the decedent for purposes of the estate tax credit under section 2013, Internal Revenue Code of 1954,1 relating to prior transfers of property.
All of the facts have been stipulated, and those facts are so found.
The petitioner is the Estate of Lorraine A. McGauley, who died on September 18, 1967. The temporary executor of the estate was Frederick F. McGauley, Jr., her son, who…
2Cases cited6 opinions
- Lyeth v. HoeySupreme Court of the United States · 1938
- Barrett v. CommissionerUnited States Tax Court · 1954
- Dutcher v. CommissionerUnited States Tax Court · 1960
- Thompson's Estate v. Commissioner of Internal Rev.Court of Appeals for the Second Circuit · 1941
- United States Trust Company of New York, Estate of Ralph Slocum Davenport, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1963
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Estate of McGauley v. CommissionerUnited States Tax Court · 1973