HIRST v. COMMISSIONER

Docket No. 2865-72.

63 T.C. 307 (1974)

EDNA BENNETT HIRST, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed December 9, 1974.


Attorney(s) appearing for the Case

Michael Mulroney and John P. Lipscomb, for the petitioner.

Robert E. Dallman, for the respondent.


The Commissioner determined a deficiency of $16,502.04 in petitioner's income tax for the calendar year 1968. The principal issue is whether petitioner realized gain by transferring property subject to the requirement that the recipients pay the State and Federal gift taxes arising from the transfers.

FINDINGS OF FACT

Most of the facts have been stipulated. The stipulation, supplemental stipulation, and accompanying...

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