Fuller v. Commissioner
United States Tax Court
Renunciation by petitioner of portion of testamentary income in 1956, many years after testator's death in 1931, held subject to gift tax for 1956 as not having occurred prior to acceptance and within a "reasonable time"; and petitioner's portion of estate income for prior year held, further, taxable to petitioner as subject, during such year, to her unfettered command; notwithstanding subsequent approval of renunciation in State court decree in accounting proceeding.
1Opinion of the Court
OPINION.
Opper, Judge:
Respondent’s determination of a gift tax deficiency for the year 1956 is bottomed on section 2511 of the Internal Revenue Code of 1954, which provides that the gift tax “shall apply whether the transfer is in trust or otherwise, whether the gift is direct or indirect, and whether the property is real or personal, tangible or intangible.”1 Section 25.2511-1 (c), Gift Tax Regs., provides as follows:
SEC. 2511. TRANSFERS IN GENERAL.(c) The gift tax also applies to gifts indirectly made. Thus, all transactions whereby property or property rights or interests are gratuitously…
2Cases cited21 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. HorstSupreme Court of the United States · 1940
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Corliss v. BowersSupreme Court of the United States · 1930
- Blair v. CommissionerSupreme Court of the United States · 1937
16 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Williams v. ElyMassachusetts Supreme Judicial Court · 1996
- Keinath v. CommissionerCourt of Appeals for the Eighth Circuit · 1973
- Keinath v. CommissionerUnited States Tax Court · 1972
- Jewett v. CommissionerUnited States Tax Court · 1978
- Estate of Hoenig v. CommissionerUnited States Tax Court · 1976
20 more not listed; retrieve them via the Exa API.