Bank of America Nat'l Trust & Sav. Asso. v. Commissioner
United States Board of Tax Appeals
ESTATE TAX - LIFE INSURANCE - COMMUNITY INCOME - CALIFORNIA. - Where the decedent, a resident of California, took out insurance upon his own life after July 29, 1927, and paid the premiums thereon from community income, the entire proceeds of the policies are part of the insured's gross estate for estate tax purposes. Newman v. Commissioner, 76 Fed.(2d) 449, affirming 29 B.T.A. 53; Estate of Julius C. Lang,34 B.T.A. 337, followed.
1Opinion of the Court
BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, EXECUTOR OF THE LAST WILL AND TESTAMENT OF MERTON J. PRICE, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bank of America Nat'l Trust & Sav. Asso. v. Commissioner
Docket No. 77885.
United States Board of Tax Appeals
34 B.T.A. 684; 1936 BTA LEXIS 661;
June 11, 1936, Promulgated
ESTATE TAX - LIFE INSURANCE - COMMUNITY INCOME - CALIFORNIA. - Where the decedent, a resident of California, took out insurance upon his own life after July 29, 1927, and paid the premiums thereon from community income, the entire proceeds of the…
2Cases cited10 opinions
- Poe v. SeabornSupreme Court of the United States · 1930
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Porter v. CommissionerSupreme Court of the United States · 1933
- United States v. MalcolmSupreme Court of the United States · 1931
- Warburton v. WhiteSupreme Court of the United States · 1900
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