Estate of Powell v. Commissioner
United States Tax Court
Prior to her death, decedent transferred fractional undivided interests in her residence to her children. Subsequent to the first of those transfers, but prior to her death, decedent moved and did not thereafter return to the residence. At her death, decedent and her children held the residence as tenants in common.
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Prior to her death, decedent transferred fractional undivided interests in her residence to her children. Subsequent to the first of those transfers, but prior to her death, decedent moved and did not thereafter return to the residence. At her death, decedent and her children held the residence as tenants in common. Held: Only the value of decedent's cotenancy is includable in the gross estate; decedent neither had the benefit of any agreement, express or implied, that the residence would remain her home ( Estate of Honigman v. Commissioner, 66 T.C. 1080 (1976); Estate of Linderme v.…
1Opinion of the Court
ESTATE OF MARION I. POWELL, DECEASED, SOUTHEAST BANK, N.A., HAROLD L. POWELL, JR., AND WILLIAM R. POWELL, CO-PERSONAL REPRESENTATIVES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Estate of Powell v. Commissioner
Docket No. 10600-89
United States Tax Court
T.C. Memo 1992-367; 1992 Tax Ct. Memo LEXIS 391; 63 T.C.M. (CCH) 3192;
June 29, 1992, Filed
Decision will be entered under Rule 155.
Prior to her death, decedent transferred fractional undivided interests in her residence to her children. Subsequent to the first of those transfers, but prior to her death, decedent moved and did not…
2Cases cited6 opinions
- Lucas v. AlexanderSupreme Court of the United States · 1929
- Estate of Linderme v. CommissionerUnited States Tax Court · 1969
- Estate of Honigman v. CommissionerUnited States Tax Court · 1976
- Krug v. KrugCourt of Appeals of Kansas · 1980
- Trafton v. CommissionerUnited States Tax Court · 1956
1 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Estate of Stewart v. CommissionerCourt of Appeals for the Second Circuit · 2010
- Estate of Stewart v. CommissionerCourt of Appeals for the Second Circuit · 2010