Estate of Thompson v. Commissioner
United States Tax Court
Two weeks prior to her death in 1974, decedent executed a 1-year note with the bank. The period provided under Indiana law for making claims against the estate expired 2 months before the maturity date of decedent's note. No claim for the note was filed by the bank during the claims period, and no payment of the note was made by the executor.
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Two weeks prior to her death in 1974, decedent executed a 1-year note with the bank. The period provided under Indiana law for making claims against the estate expired 2 months before the maturity date of decedent's note. No claim for the note was filed by the bank during the claims period, and no payment of the note was made by the executor. On or about the maturity date of decedent's note, the executor executed, on behalf of the estate, another 1-year note, the proceeds of which were used to pay the principal and accrued interest of decedent's note in full. Successive 1-year notes were…
1Opinion of the Court
Estate of Bessie L. Thompson, Deceased, Terrence R. Moses, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Thompson v. Commissioner
Docket No. 1231-78
United States Tax Court
74 T.C. 858; 1980 U.S. Tax Ct. LEXIS 95;
July 28, 1980, Filed
Decision will be entered for the respondent.
Two weeks prior to her death in 1974, decedent executed a 1-year note with the bank. The period provided under Indiana law for making claims against the estate expired 2 months before the maturity date of decedent's note. No claim for the note was filed by the bank during the claims period,…
2Cases cited16 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Estate of Hagmann v. CommissionerUnited States Tax Court · 1973
- Donnella, Admrx. v. CradyIndiana Court of Appeals · 1962
- Estate of Mary Redding Shedd, First National Bank of Arizona, Trustee v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1963
- Shedd v. CommissionerUnited States Tax Court · 1961
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