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allowed under section 2056(b)(7) for Andrew's estate. We hold
that respondent's determination is correct.3
The next issue is whether the gross estate should include
$91,010.91 in cash equivalents that was not reported by
petitioner on its Federal estate tax return. Under section 2033,
the value of the gross estate shall include the value of all
property to the extent of the interest therein of the decedent at
the time of her death.
On its estate tax return, petitioner reported that as of the
date of decedent's death, she held cash of $368,050.76.
According to Integra, the guardian of the Anna Soberdash
Guardianship, the cash equivalents held by the guardianship as of
the date of death had a value of $459,061.68.
In support of its position that the amount of cash
reportable on the Federal estate tax return is $368,050.76,
petitioner presented a copy of a decree from the Court of Common
Pleas of Fayette County, Pennsylvania, Orphan's Court Division,
dated April 16, 1993, showing that the amount of cash available
3Sec. 22.2056-1(b), Temporary Estate Tax Regs., 47 Fed. Reg.
41736 (Sept. 22, 1982), which was applicable to the QTIP
deduction for Andrew's estate, provides that a QTIP election may
be made for all or any part of a property that meets the
requirements of sec. 2056(b)(7)(B)(i)(I) and (II). A partial
election must relate to a fractional or percentile share of the
property so that the elective part will reflect its proportionate
share of the increment or decline in the whole of the property
for purposes of applying sec. 2044. Sec. 22.2056-1(b), Temporary
Estate Tax Regs., supra. This temporary regulation was
incorporated into the final regulations contained in T.D. 8522,
1994-1 C.B. 236, 239, effective Mar. 1, 1994.
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