Estate of Goldsborough v. Commissioner
United States Tax Court
In 1946 decedent Goldsborough transferred to her two daughters real property worth $ 25,000. In 1949, the daughters sold the real property for $ 32,500 and separately invested their respective shares of the proceeds in stock and securities to which title was taken in the names of the purchaser and decedent Goldsborough.
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In 1946 decedent Goldsborough transferred to her two daughters real property worth $ 25,000. In 1949, the daughters sold the real property for $ 32,500 and separately invested their respective shares of the proceeds in stock and securities to which title was taken in the names of the purchaser and decedent Goldsborough. At Goldsborough's death in 1972, the stock and securities had a value of $ 160,383.19. Held, under sec. 2040, the portion of the value of the stock and securities attributable to the gain realized by the two daughters in 1949 on the sale of the real property (7,500/32,500 of $…
1Opinion of the Court
Estate of Marcia P. Goldsborough, Deceased, Katherine G. Eppler, Personal Representative, and Katherine G. Eppler, et al., 1 Petitioners v. Commissioner of Internal Revenue, Respondent
Estate of Goldsborough v. Commissioner
Docket Nos. 10811-76, 10831-76, 10832-76, 10835-76, 10836-76, 10837-76
United States Tax Court
70 T.C. 1077; 1978 U.S. Tax Ct. LEXIS 48;
September 27, 1978, Filed
Decisions will be entered under Rule 155.
In 1946 decedent Goldsborough transferred to her two daughters real property worth $ 25,000. In 1949, the daughters sold the real property for $ 32,500 and separately invested…
2Cases cited18 opinions
- United States v. JacobsSupreme Court of the United States · 1939
- Riss v. CommissionerUnited States Tax Court · 1971
- Riss v. CommissionerUnited States Tax Court · 1971
- Schuster's Express, Inc. v. CommissionerUnited States Tax Court · 1976
- Wilkes-Barre Carriage Co. v. CommissionerUnited States Tax Court · 1963
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