Helvering v. Meredith

These are appeals by the Commissioner of Internal Revenue from decisions of the Tax Court of the United States.

On January 25, 1936, the Prudential Life Insurance Company of America issued to Mrs. Edna E. Meredith two single payment life contracts and one non-participating life annuity contract. The annuity contract provides for the payment each year during life of an annuity of $1,358.16 in consideration of a purchase price of $19,-358. The life contracts issued on the life of the taxpayer as insured are identical except as to amounts. One of them provides for the payment of $40,000 to named…