Seagrist v. Commissioner
United States Board of Tax Appeals
1. ESTATE TAXES - DEDUCTIONS - MORTGAGES. - An estate is not eentitled to deduct, under section 303(a)(1)(D) of the Revenue Act of 1926, as amended by section 805 of the Revenue Act of 1932, the entire amount due on seven mortgages the lien of which was spread over six properties, two owned by the decedent and four owned by her husband, where the benefits of the loans on the property of the husband flowed to him and not to her. 2. ESTATE TAXES - DEDUCTIONS - REAL ESTATE…
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1. ESTATE TAXES - DEDUCTIONS - MORTGAGES. - An estate is not eentitled to deduct, under section 303(a)(1)(D) of the Revenue Act of 1926, as amended by section 805 of the Revenue Act of 1932, the entire amount due on seven mortgages the lien of which was spread over six properties, two owned by the decedent and four owned by her husband, where the benefits of the loans on the property of the husband flowed to him and not to her. 2. ESTATE TAXES - DEDUCTIONS - REAL ESTATE TAXES. - Real estate taxes are deductible from the gross estate only in case the lien for them attached prior to the death…
1Opinion of the Court
OPINION.
Murdock :
The Commissioner determined a deficiency of $2,130.05 in estate tax. The issues for decision are (1) whether the Commissioner erred in allowing a deduction of only $40,000 out of $140,600 due on seven mortgages, the lien of which was spread over two properties owned by the decedent and four owned by her husband and (2) whether real estate taxes on properties owned by the decedent, payable in the second half of 1935 after her death, are deductible. The facts have been stipulated and the Board adopts the stipulation as its findings of fact.
Two pieces of real estate, one at 309…
2Cases cited4 opinions
- Stuyvesant v. HallNew York Court of Chancery · 1847
- Guion v. KnappNew York Court of Chancery · 1836
- Howard Insurance Co. v. . HalseyNew York Court of Appeals · 1853
- Chapman v. . WestNew York Court of Appeals · 1858
3Cited by10 opinions
- Pardee v. CommissionerUnited States Tax Court · 1967
- Estate of Fawcett v. CommissionerUnited States Tax Court · 1975
- Estate of Courtney v. CommissionerUnited States Tax Court · 1974
- Mrs. Anna Terranova Catalano and Mrs. Rosemary Catalano Loup v. United StatesCourt of Appeals for the Fifth Circuit · 1969
- Estate of Davis v. CommissionerUnited States Tax Court · 1972
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