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ESTATE OF WATERS v. COMMISSIONER

Docket No. 2191.

3 T.C. 407 (1944)

ESTATE OF JAMES F. WATERS, DECEASED, BANK OF AMERICA NATIONAL TRUST & SAVINGS ASSOCIATION, A NATIONAL BANKING ASSOCIATION, AS ADMINISTRATOR OF THE ESTATE OF JAMES F. WATERS, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 6, 1944.

Attorney(s) appearing for the Case

Everett S. Layman, Esq., for the petitioner.

T. M. Mather, Esq., for the respondent.

This proceeding is to test the correctness of the Commissioner's determination of a deficiency in income tax for the year 1941 in the amount of $7,226.05. Concessions have reduced the amount in controversy to $3,780.05. The sole issue is the proper basis for computing loss and depreciation on the widow's share in community property in process of administration. The parties are in complete agreement as to the propriety and amount of the deductions, once the proper basis for...

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