Thorp v. Commissioner
United States Tax Court
Where a trust created in 1918 by the decedent contained a power in decedent to terminate the trust, cutting off the remainder interest, upon the request of the life beneficiaries, held: (1) The value of the remainder interests transferred were includible in decedent's gross estate under section 811 (d) (2), I. R. C. (2) The application of said section does not infringe the due process clause of the Fifth Amendment.
1Opinion of the Court
OPINION.
Leech, Judge:
This controversy involves a deficiency in estate tax amounting to $118,747.12. The sole contested issue is whether the respondent erred in including the value of the trust remainders in decedent’s gross estate. All the facts were stipulated and are adopted as stipulated.
Petitioners are the duly qualified executors of the estate of Charles M. Thorp, deceased, a resident of Pittsburgh, Pennsylvania, who died testate on December 14, 1942. The Federal estate tax return was filed with the collector of internal revenue for the twenty-third Pennsylvania district, at Pittsburgh,…
2Cases cited10 opinions
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Porter v. CommissionerSupreme Court of the United States · 1933
- Reinecke v. SmithSupreme Court of the United States · 1933
- Commissioner v. Estate of HolmesSupreme Court of the United States · 1946
- Helvering v. HelmholzSupreme Court of the United States · 1935
5 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Coulter v. CommissionerUnited States Tax Court · 1946
- Thorp's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1947
- Koshland v. CommissionerUnited States Tax Court · 1948
- In Re Inman's Estate. Shiland v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1953
- Inman v. CommissionerUnited States Tax Court · 1952
12 more not listed; retrieve them via the Exa API.