Security Trust & Sav. Bank v. Commissioner
United States Board of Tax Appeals
In an exchange, without reserve or contingency, of valuable capital stock, decedent acquired the right to an annuity for life. Held, the transaction was not a transfer to take effect at or after death and the gross estate should not be increased by a value attributable thereto.
1Opinion of the Court
*835OPINION.
Tkussell :
This is an estate tax issue and the sole question before us is the propriety of the action of respondent in adding to the gross estate of Charles A. Goodyear a value attributable to properties which respondent considered to have been transferred with intention to take effect at or after death. Respondent concedes that the transfers were not in contemplation of death.
In 1909, thirteen years prior to the death of decedent, in accordance with agreements in writing, decedent divested himself of certain corporate capital stocks and acquired in consideration thereof the right to…
2Cases cited1 opinion
- Polk v. MilesDistrict Court, D. Maryland · 1920
3Cited by5 opinions
- Cain v. Comm'rUnited States Tax Court · 1961
- Lazarus v. CommissionerCourt of Appeals for the Ninth Circuit · 1975
- Cain v. Comm'rUnited States Tax Court · 1961
- Security Trust & Sav. Bank v. CommissionerUnited States Board of Tax Appeals · 1928
- Simon M. Lazarus v. Commissioner of Internal Revenue, Mina Lazarus v. Commissioner of Internal Revenue, Simon M. And Mina Lazarus v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1975