Parker v. Commissioner
United States Tax Court
Petitioner, decedent's widow, was the beneficiary of a formula marital deduction bequest of an amount equal to one-half of her deceased husband's adjusted gross estate. She elected to take under her deceased husband's will and, as executrix, distributed to herself all but $ 62,473.68 of the bequest. She caused that amount to be paid directly to the residuary trust of which she was trustee and life beneficiary. She concedes that the transfer to the trust was a taxable gift.
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Petitioner, decedent's widow, was the beneficiary of a formula marital deduction bequest of an amount equal to one-half of her deceased husband's adjusted gross estate. She elected to take under her deceased husband's will and, as executrix, distributed to herself all but $ 62,473.68 of the bequest. She caused that amount to be paid directly to the residuary trust of which she was trustee and life beneficiary. She concedes that the transfer to the trust was a taxable gift. Held, the decedent's estate is entitled to a marital deduction under sec. 2056(a), I.R.C. 1954, for the $ 62,473.68.
1Opinion of the Court
OPINION
Featiierston, Judge:
Respondent determined a deficiency in the estate tax due from the Estate of S. E. Parker, deceased (the estate), in the amount of $17,245.02. The only issue for decision is whether the estate is entitled to a marital deduction under section 2056(a) 1 of $225,740.32, the date-of-death value of property devised and bequeathed to petitioner Grace M. Parker as surviving spouse, or whether the estate’s marital deduction is limited to $163,266.64, the value of the property actually distributed to petitioner out of the gross estate.2
All the facts are stipulated.
Petitioner…
2Cases cited11 opinions
- Estate of Hagmann v. CommissionerUnited States Tax Court · 1973
- Hardenbergh v. Commissioner of Internal Revenue (Two Cases)Court of Appeals for the Eighth Circuit · 1952
- Boyer v. EmersonSupreme Court of Iowa · 1921
- Hohensee v. CommissionerUnited States Tax Court · 1956
- Hardenbergh v. CommissionerUnited States Tax Court · 1951
6 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Estate of Mackie v. CommissionerUnited States Tax Court · 1975
- Estate of Neugass v. CommissionerUnited States Tax Court · 1975
- Estate of Salter v. CommissionerUnited States Tax Court · 1975
- Estate of Swenson v. CommissionerUnited States Tax Court · 1975
- Estate of Mackie v. CommissionerUnited States Tax Court · 1975
5 more not listed; retrieve them via the Exa API.