OPINION
FAY, Judge:
Respondent determined a deficiency of $58,676.97 in petitioner's Federal gift tax for the calendar quarter ending March 31, 1976. The issues for decision are whether petitioner made a taxable gift when she released certain powers held by her over a trust, and, if a gift was made, what was its value.
All of the facts have been stipulated and are so found.
Petitioner, Myra B. Robinson, resided in Big Spring, Tex....
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