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establish a different value for the items on the estate tax
return.
Because the decedent's entire estate was transferred to
petitioner upon the decedent's death, the estate became insolvent
as a result of the transfer.
Respondent has satisfied her burden and established
transferee liability. Accordingly, petitioner is liable for the
amount of the deficiency plus any allowable interest to the
extent that it does not exceed the amount the decedent
transferred to petitioner. Yagoda v. Commissioner, 39 at 185.
Notwithstanding the items that petitioner attempted to revalue,
petitioner's undisputed receipt of the amounts listed as
annuities in the decedent's estate tax return would have provided
petitioner with funds exceeding petitioner's transferee
liability. Because the value of the items transferred exceeds
the transferee liability, petitioner is liable for the entire
amount determined. Yagoda v. Commissioner, Id. at 185; Brown v.
Commissioner, 24 T.C. 256, 267 (1955).
Finally, petitioner asserts that, if she is liable as a
transferee, she should be relieved of her liability because she
is an "innocent spouse". Petitioner argues that it is
inequitable to hold her responsible for the amounts due,
particularly for the interest.
Respondent asserts that the "innocent spouse" defense is not
available in a transferee liability case. Respondent further
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