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KLEMPNER v. COMMISSIONER

Docket Nos. 48491, 48493, 53029, 53030, 53428.

14 T.C.M. 1185 (1955)

T.C. Memo. 1955-307

Emil Klempner v. Commissioner. Augusta Klempner v. Commissioner.

United States Tax Court.

Filed November 21, 1955.

Attorney(s) appearing for the Case

Frank A. Garlove, Esq., Marion E. Taylor Building, Louisville, Ky., Irwin G. Waterman, Esq., and L. C. J. Yeager, C. P. A., for the petitioners. John L. Carey Esq., for the respondent.

Memorandum Findings of Fact and Opinion

These consolidated proceedings involve deficiencies in gift tax for 1949, as follows:

  Docket No.          Deficiency

    48491...........  $1,357.87
    48493.........        33.28

The issue is whether the transfers in 1949 of 1,800 shares of the class B common stock of Klempner Bros, Inc., by the petitioner, Emil Klempner, to his wife and sons were absolute gifts or transfers by him to a trust...

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