Gutman v. Commissioner
United States Board of Tax Appeals
A husband transferred, without consideration, his residence to himself and wife as tenants by the entireties. Held, that the transfer was subject to gift tax, and that computation of the gift tax does not require deduction of depreciation upon the property to the problematical date of death of the husband, or the value of the donee's right to support from her husband, the donor.
1Opinion of the Court
*817OPINION.
Disney:
The petitioner filed a gift tax return for 1935 covering gifts made by him during that year, but did not include in his gift tax return for 1935 any value for the home conveyed to himself and wife as tenants by the entireties. The Commissioner in determining the deficiency determined a gift tax upon a value of $8,349.46, explaining in the deficiency notice that the property had been determined to have a fair value of $16,100, that the ages of the donor and his wife, the donee, were shown to have been 46 and 42 years, that the present worth of the right to one-half the use of…
2Cases cited4 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Helvering v. HallockSupreme Court of the United States · 1940
- Simpson v. United StatesSupreme Court of the United States · 1920
- United States v. Fidelity Trust Co.Supreme Court of the United States · 1911
3Cited by9 opinions
- Edgar v. CommissionerUnited States Tax Court · 1971
- Pearl M. Kennedy v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1986
- Darling v. CommissionerUnited States Tax Court · 1965
- National Bank of Commerce in Memphis and John S. Montedonico, Co-Executors of the Estate of Elizabeth G. Frank, Deceased v. United StatesCourt of Appeals for the Sixth Circuit · 1970
- Darling v. CommissionerUnited States Tax Court · 1965
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