Estate of Davis v. Commissioner
United States Tax Court
Decedent was survived by a widow, two children by the widow, and one child by a previous marriage. After making certain outright gifts, decedent's will disposed of balance of estate to two trusts, the first for the widow and the second containing certain farm property for the primary benefit of all three children. The two children by the widow were named trustees of both trusts.
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Decedent was survived by a widow, two children by the widow, and one child by a previous marriage. After making certain outright gifts, decedent's will disposed of balance of estate to two trusts, the first for the widow and the second containing certain farm property for the primary benefit of all three children. The two children by the widow were named trustees of both trusts. The will also provided that (1) "the entire net income" of first trust was to be distributed to the widow annually; (2) widow had general power of appointment exercisable by will over corpus of first trust but if she…
1Opinion of the Court
SHIELDS, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax in the amount of $1,332,388.48. The issues for decision are: (1) Whether petitioner is entitled to use the special use valuation for certain farm properties under section 2032A;1 and (2) whether the testamentary trust created by decedent for his surviving wife qualifies for the marital deduction under section 2056(b)(5).
FINDINGS OF FACT
Some of the facts have been stipulated and are so found. The stipulation of facts and exhibits attached thereto are incorporated herein by reference.
David Davis IV (hereinafter…
2Cases cited6 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Stephenson Trust v. CommissionerUnited States Tax Court · 1983
- Wielert v. LarsonAppellate Court of Illinois · 1980
- Estate of Weisberger v. CommissionerUnited States Tax Court · 1957
- Winkle v. United StatesDistrict Court, S.D. Ohio · 1974
1 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- McDonald v. CommissionerUnited States Tax Court · 1987
- Estate of James U. Thompson, Deceased Susan T. Taylor, Personal Representative v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1989
- Estate of Thompson v. CommissionerUnited States Tax Court · 1987
- Laverne Smoot, as of the Estate of Ruth M. Smoot v. United StatesCourt of Appeals for the Seventh Circuit · 1989
- Miller v. United StatesDistrict Court, C.D. Illinois · 1988
7 more not listed; retrieve them via the Exa API.