Stern v. Commissioner
United States Board of Tax Appeals
1. In allowing deductions from the gross estate in computing estate taxes, Congress did not intend that determination of the tax should await final settlement of the estate and a reduction to absolute certainty of all claims against it. 2. Deductions for executors' commission may be based upon a reasonable estimate of the amount allowable by the lex domicillii and it is not essential that such commissions be first allowed by order of court or paid. 3. In a case heard on…
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1. In allowing deductions from the gross estate in computing estate taxes, Congress did not intend that determination of the tax should await final settlement of the estate and a reduction to absolute certainty of all claims against it. 2. Deductions for executors' commission may be based upon a reasonable estimate of the amount allowable by the lex domicillii and it is not essential that such commissions be first allowed by order of court or paid. 3. In a case heard on petition and answer, the value of assets of an estate, based upon the price for which they were sold by the executors, will…
1Opinion of the Court
APPEAL OF SAMUEL E. A. STERN, UNITED STATES MORTGAGE & TRUST CO., AND IONE DE LISSER, AS EXECUTORS UNDER THE LAST WILL AND TESTAMENT OF HORACE DE LISSER, DECEASED.
Stern v. Commissioner
Docket No. 2459.
United States Board of Tax Appeals
2 B.T.A. 102; 1925 BTA LEXIS 2543;
June 19, 1925, Decided Submitted April 21, 1925.
1. In allowing deductions from the gross estate in computing estate taxes, Congress did not intend that determination of the tax should await final settlement of the estate and a reduction to absolute certainty of all claims against it.
2. Deductions for executors' commission may be…
2Cases cited1 opinion
- Stern v. CommissionerUnited States Board of Tax Appeals · 1925