LITTLETON, Judge.
The question in this case is whether the proceeds of six life-insurance policies amounting to $80,519.80 were properly included, in excess of the $40,000 exemption, by the Commissioner of Internal Revenue in the gross estate for the purpose of determining the net estate subject to tax.
The plaintiffs contend that inasmuch as all of the policies were taken out by the decedent on his own life prior to the Revenue Act of 1918, which was the...
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