Parker v. Commissioner
United States Tax Court
Petitioner, decedent's widow, was the beneficiary of a formula marital deduction bequest of an amount equal to one-half of her deceased husband's adjusted gross estate. She elected to take under her deceased husband's will and, as executrix, distributed to herself all but $ 62,473.68 of the bequest. She caused that amount to be paid directly to the residuary trust of which she was trustee and life beneficiary. She concedes that the transfer to the trust was a taxable gift.
Read the full summary
Petitioner, decedent's widow, was the beneficiary of a formula marital deduction bequest of an amount equal to one-half of her deceased husband's adjusted gross estate. She elected to take under her deceased husband's will and, as executrix, distributed to herself all but $ 62,473.68 of the bequest. She caused that amount to be paid directly to the residuary trust of which she was trustee and life beneficiary. She concedes that the transfer to the trust was a taxable gift. Held, the decedent's estate is entitled to a marital deduction under sec. 2056(a), I.R.C. 1954, for the $ 62,473.68.
1Opinion of the Court
Grace M. Parker, Trustee and Transferee of the Estate of S. E. Parker, Deceased, Petitioner v. Commissioner of Internal Revenue, Respondent
Parker v. Commissioner
Docket No. 2847-72
United States Tax Court
62 T.C. 192; 1974 U.S. Tax Ct. LEXIS 107; 62 T.C. No. 21;
May 15, 1974, Filed
Decision will be entered under Rule 155.
Petitioner, decedent's widow, was the beneficiary of a formula marital deduction bequest of an amount equal to one-half of her deceased husband's adjusted gross estate. She elected to take under her deceased husband's will and, as executrix, distributed to herself all but $…
2Cases cited12 opinions
- Estate of Hagmann v. CommissionerUnited States Tax Court · 1973
- Hardenbergh v. Commissioner of Internal Revenue (Two Cases)Court of Appeals for the Eighth Circuit · 1952
- Boyer v. EmersonSupreme Court of Iowa · 1921
- Hohensee v. CommissionerUnited States Tax Court · 1956
- Hardenbergh v. CommissionerUnited States Tax Court · 1951
7 more not listed; retrieve them via the Exa API.