Estate of Arthur W. Davis, Davis v. Commissioner
United States Tax Court
Decedent's employer, after dismissing him, agreed to pay decedent, in monthly installments, one year's salary as termination payment, and in the event of his death within the year to pay the balance of the termination payment to his widow or his estate. Decedent died within the year, and his former employer paid the balance of $15,000 to his widow.
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Decedent's employer, after dismissing him, agreed to pay decedent, in monthly installments, one year's salary as termination payment, and in the event of his death within the year to pay the balance of the termination payment to his widow or his estate. Decedent died within the year, and his former employer paid the balance of $15,000 to his widow. Respondent included the value of the right to receive the $15,000 in decedent's gross estate, and determined that the $15,000 paid to decedent's widow was taxable income to her. Held, the value of the right to receive the termination payments was…
1Opinion of the Court
Estate of Arthur W. Davis, Marion E. Davis, Executrix v. Commissioner. Estate of Arthur W. Davis, Marion E. Davis, Executrix, and Marion E. Davis, Individually v. Commissioner.
Estate of Arthur W. Davis, Davis v. Commissioner
Docket Nos. 32286, 36717.
United States Tax Court
1952 Tax Ct. Memo LEXIS 124; 11 T.C.M. (CCH) 814; T.C.M. (RIA) 52238;
July 31, 1952
Decedent's employer, after dismissing him, agreed to pay decedent, in monthly installments, one year's salary as termination payment, and in the event of his death within the year to pay the balance of the termination payment to his widow or his…
2Cases cited6 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Holland v. CommissionerUnited States Tax Court · 1943
- Bausch v. CommissionerUnited States Tax Court · 1950
- Estate of Basch v. CommissionerUnited States Tax Court · 1947
- Estate of Mortimer v. CommissionerUnited States Tax Court · 1951
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