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outstanding at the time of decedent's death are includable in her
gross estate. Petitioner argues that the amount in question
constitutes nontaxable completed gifts and should be excluded
from decedent's gross estate. Respondent, however, argues that
the checks do not represent completed nontaxable gifts and that
the value of the underlying funds should be included in
decedent's gross estate. Respondent bases his argument on the
fact that the checks were not accepted or paid by CFB before
decedent's death and that, therefore, decedent maintained
dominion and control over the underlying funds until her death
with the result that the gifts were incomplete during decedent's
lifetime.2 Furthermore, respondent disagrees with petitioner's
argument that the payment of the checks by CFB after decedent's
death relates back to the date on the checks.
Section 2001(a) imposes a tax on the transfer of the taxable
estate of every decedent who is a citizen or resident of the
United States. The taxable estate is defined in section 2051 as
the gross estate less deductions. Pursuant to sections 2031 and
2033, the value of the gross estate generally includes the value
of all property to the extent of the interest therein of decedent
2Respondent also argues that Mark, as attorney-in-fact, had
no authority to make gifts on behalf of decedent. Alternatively,
respondent argues that the $60,000 check to Paul and Joyce Newman
exceeds the $10,000 exclusion under sec. 2503(b) and, therefore,
$40,000 of that check is an adjusted taxable gift, which is added
to decedent's reported gross estate. Because we find for
respondent on other grounds, we need not address these arguments.
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