Estate of Albert Fratini, Deceased, Marion Friedeberg, Personal Representative - Page 15

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               banking business, in their joint names and payable to                  
               either or the survivor, except such part thereof as may                
               be shown to have originally belonged to such other                     
               person and never to have been received or acquired by                  
               the latter from decedent for less than an adequate and                 
               full consideration in money or money's worth: * * *                    

          Section 2040 establishes a "contribution test", whereby the                 
          estate of the deceased joint tenant must generally include the              
          value of the entire property less the portion of the property               
          attributable to the consideration furnished by the surviving                
          joint tenant.6  Hahn v. Commissioner, 110 T.C. 140, 144 (1998).             
          If part of the consideration is found to have been contributed in           
          money or money's worth by the surviving joint tenant, then the              
          part of the value of the property that is proportionate to such             
          consideration is not included in decedent's gross estate.  Estate           
          of Anderson v. Commissioner, T.C. Memo. 1989-643; sec. 20.2040-             
          1(a)(2), Estate Tax Regs.                                                   
               Petitioner first argues that Ms. Friedeberg contributed                
          consideration in the form of "money" to the value of the assets             

               6In 1976, subsec. (b) of sec. 2040 was added to the Code by            
          sec. 2002(c)(1) of the Tax Reform Act of 1976, Pub. L. 94-455, 90           
          Stat. 1520, 1855.  The 1976 amendment created a special rule                
          where the joint tenants were husband and wife.  Hahn v.                     
          Commissioner, 110 T.C. 140, 145 (1998).  If the interest were a             
          "qualified joint interest", only one-half of the value of the               
          property owned in joint tenancy was includable in decedent's                
          gross estate, without regard to which spouse furnished the                  
          consideration to acquire the jointly held property.  Id.                    
          Decedent and Ms. Friedeberg were never married.  Therefore, sec.            
          2040(b) does not operate to affect the amount includable in                 
          decedent's estate.                                                          

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