T.C. Memo. 1997-470 UNITED STATES TAX COURT ROSALYN DEUTSCH, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 21845-93. Filed October 15, 1997. Decedent (D), who died in 1988, bequeathed his spouse (P) minimal assets from a net estate of $3,361,683. In 1989, P elected against D's will to take the Florida elective share of 30 percent of the net estate, or $1,008,504. The estate reported 1989 distributable net income (DNI) of $707,095, including $176,432 of capital gains that D's personal representative treated as estate income, and $377,753 of distributions to the estate from D's individual retirement accounts. Pursuant to order of the Florida Probate Court, D's personal representative paid P the elective share in 1989, but made no distributions to the residuary beneficiaries until 1990. The personal representative claimed a distribution deduction of $707,095 for 1989 under sec. 661(a), I.R.C., on the ground that all the estate's DNI had been included in the payments to P in satisfaction of her elective share. P did not include in her gross income any part of the elective share.Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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