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In order to include property held by a decedent in joint
tenancy in the decedent's gross estate, Congress enacted section
202(c) in the Revenue Act of 1916, ch. 463, 39 Stat. 756,10 the
predecessor of the current section 2040.11 The enactment of the
10 Sec. 202(c) of the Revenue Act of 1916, ch. 463, 39
Stat. 756, 778, provided that the gross estate included:
SEC. 202(c). To the extent of the interest therein held
jointly or as tenants in the entirety by the decedent and
any other person, or deposited in banks or other
institutions 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 belonged to the decedent.
For the purpose of this title stock in a domestic
corporation owned and held by a nonresident decedent shall
be deemed property within the United States, and any
property of which the decedent has made a transfer or with
respect to which he has created a trust, within the meaning
of subdivision (b) of this section, shall be deemed to be
situated in the United States, if so situated either at the
time of the transfer or the creation of the trust, or at the
time of the decedent's death.
11 Sec. 2040(a) reads as follows:
SEC. 2040(a). General Rule.--The value of the gross estate
shall include the value of all property to the extent of the
interest therein held as joint tenants with right of
survivorship by the decedent and any other person, or as
tenants by the entirety by the decedent and spouse, or
deposited, with any person carrying on the 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 the decedent for
less than an adequate and full consideration in money or
money's worth: Provided, That where such property or any
part thereof, or part of the consideration with which such
property was acquired, is shown to have been at any time
acquired by such other person from the decedent for less
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