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ESTATE OF LLOYD v. COMMISSIONER

Docket No. 48379.

24 T.C. 624 (1955)

ESTATE OF MALCOLM LLOYD, JR., MARY DERCUM LLOYD, THE PENNSYLVANIA COMPANY FOR BANKING AND TRUSTS, EXECUTORS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 30, 1955.

Attorney(s) appearing for the Case

Leon Meltzer, Esq., and Gustave F. Straub, Esq., for the petitioners.

Max J. Hamburger, Esq., for the respondent.

The respondent has determined a deficiency of $110,854.23 in the estate tax of the Estate of Malcolm Lloyd, Jr. Issues presented by the pleadings are the correctness of the respondent's action in determining the value of the net estate (1) in disallowing a deduction of $5,000 taken for attorneys' fees, (2) in disallowing a deduction of $3,134.52 taken for debts of the decedent, and (3) in disallowing a deduction of $292,479.48 taken for bequests to charitable, educational...

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