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Date on Date Accepted and
Check No. Amount Payee Check Paid by CFB
1652 $10,000 Mollie Nathanson 9/23/92 10/05/92
1653 5,000 Minna Lev 9/23/92 10/07/92
1654 60,000 Paul & Joyce Newman 9/24/92 10/02/92
1655 5,000 Robert Davidson 9/24/92 10/02/92
1656 10,000 Mark & Diana Newman 9/24/92 10/01/92
1657 5,000 Tina Reiss 9/24/92 10/05/92
All the above checks were signed by Mark and dated prior to
decedent's death. However, none of these checks were accepted or
paid by the drawee bank until after decedent's death.
Petitioner claims that the above checks were gifts made during
decedent's lifetime. Petitioner also contends that it was
decedent's desire that the $60,000 given to Paul be distributed
amongst himself, his children, and his grandchildren and that
each of the distributees received $10,000 or less per person.
On or about June 1, 1993, a United States Estate (and
Generation-Skipping Transfer) Tax Return, Form 706, was filed on
behalf of decedent's estate. This return indicated that decedent
did not make any taxable gifts during her lifetime. Furthermore,
the Schedule C attached to the Form 706 reflects the value of
decedent's checking account No. 05-011258-6 as $5,212 at the date
of her death.
OPINION
The sole issue in this case is whether the funds in
decedent's bank account represented by the six checks, which were
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