Heywood v. Commissioner
United States Board of Tax Appeals
1. Charitable contributions are not deductible by estates in the computation of net income unless paid or permanently set aside pursuant to the terms of the will. 2. The value of depreciable assets at the date of decedent's death should be used as the basis for determining the depreciation deductible by his estate. 3. The petitioners paid certain legacies from the income of the decedent's estate, the will making no provision as to the source from which the payments should be…
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1. Charitable contributions are not deductible by estates in the computation of net income unless paid or permanently set aside pursuant to the terms of the will. 2. The value of depreciable assets at the date of decedent's death should be used as the basis for determining the depreciation deductible by his estate. 3. The petitioners paid certain legacies from the income of the decedent's estate, the will making no provision as to the source from which the payments should be made. Held, that the amounts of said payments are not deductible under section 219(c) of the Revenue Act of 1921 in the…
1Opinion of the Court
*32OPINION.
MoRRis:
The first allegation of error is that the respondent erred in disallowing as a deduction in the computation of net income for 1923 an amount paid to the Near East Relief. The respondent contends that this amount is not an allowable deduction within the meaning of the law, for the reason that it was not provided for in the last will and testament of the decedent. Therefore, our question is one of law as to whether the executors of the estate may take as *33a deduction, in the computation of net income, contributions of the nature herein, which were pledged by the decedent during…
2Cited by3 opinions
- Heywood v. CommissionerUnited States Board of Tax Appeals · 1928
- Himelhoch Bros. & Co. v. CommissionerUnited States Board of Tax Appeals · 1932
- Pierce v. CommissionerUnited States Board of Tax Appeals · 1931