Estate of Gribauskas v. Commissioner
United States Tax Court
In late 1992, D and his former spouse won a Connecticut LOTTO prize payable in 20 annual installments. At the time of his death in 1994, D was entitled to receive 18 further annual payments of $ 395,182.67 each. HELD: The lottery payments must be included in D's gross estate and valued for estate tax purposes through application of the actuarial tables prescribed under sec. 7520, I.R.C.
1Opinion of the Court
OPINION
NlMS, Judge:
Respondent determined a Federal estate tax deficiency in the amount of $403,167 for the Estate of Paul C. Gribauskas (the estate). The sole issue for decision is whether an interest held at his death by Paul C. Gribauskas (decedent) in 18 annual installments of a lottery prize must be valued for estate tax purposes through application of the actuarial tables prescribed under section 7520.
Unless otherwise indicated, all section references are to sections of the Internal Revenue Code in effect as of the date of decedent’s death, and all Rule references are to the Tax Court…
2Cases cited21 opinions
- Estate of Christ v. Comm'rUnited States Tax Court · 1970
- Estate of Daisy F. Christ, Deceased, Robert Johnson Christ v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1973
- Weller v. CommissionerUnited States Tax Court · 1962
- Jennings v. CommissionerUnited States Tax Court · 1948
- Lederer v. Fidelity Trust Co.Supreme Court of the United States · 1925
16 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- Cook v. Commissioner of the Internal Revenue ServiceCourt of Appeals for the Fifth Circuit · 2003
- Estate of Paul C. Gribauskas, Deceased, Roy L. Gribauskas, Co-Executor, Carol Beauparlant, Co-Executor v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 2003
- Estate of Kahn v. Comm'rUnited States Tax Court · 2005
- Anthony v. United StatesCourt of Appeals for the Fifth Circuit · 2008
- Abeid v. Comm'rUnited States Tax Court · 2004
19 more not listed; retrieve them via the Exa API.