MARTINEZ v. COMMISSIONER

Docket No. 7586-74.

67 T.C. 60 (1976)

CHERLYN C. CALDWELL MARTINEZ, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed October 19, 1976.


Attorney(s) appearing for the Case

Charles A. Pinney, Jr., for the petitioner.

William K. Shipley and Allen R. Herson, for the respondent.


STERRETT, Judge:

Respondent determined a deficiency in petitioner's gift tax for the calendar year 1969 in the amount of $15,609.67. The principal issue for our determination is whether, in two trusts established by petitioner, the administrative powers granted the trustee cause the interest retained by petitioner and the interest created in the beneficiary to be not susceptible of measurement on the basis of generally accepted valuation principles.

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