Crary v. Commissioner
United States Board of Tax Appeals
Deduction under section 403(a)(2), Revenue Act of 1921, for previously-taxed property should not be reduced by amounts deductible under subdivisions (1) and (3) merely because such items were paid out of previously-taxed property but did not exceed in amount the value of property not previously taxed. Hepburn's Estate,11 B.T.A. 1386, followed.
1Opinion of the Court
CALVERT CRARY AND GIFFORD B. CRARY, AS EXECUTORS OF THE LAST WILL AND TESTAMENT OF LOUISE B. CRARY, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Crary v. Commissioner
Docket No. 18366.
United States Board of Tax Appeals
19 B.T.A. 634; 1930 BTA LEXIS 2358;
April 21, 1930, Promulgated
Deduction under section 403(a)(2), Revenue Act of 1921, for previously-taxed property should not be reduced by amounts deductible under subdivisions (1) and (3) merely because such items were paid out of previously-taxed property but did not exceed in amount the value of property not previously taxed.…
2Cases cited2 opinions
- Seaboard Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1928
- Crary v. CommissionerUnited States Board of Tax Appeals · 1930