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to get the full marital deduction, the decedent had to leave
property to the surviving spouse outright or had to leave
property to the surviving spouse in trust with a general power of
appointment. In either situation, the decedent's property was
aggregated with the property of the surviving spouse for
valuation purposes when the surviving spouse died. Accordingly,
respondent concludes that property in the QTIP trust should be
aggregated with the FOH shares in the Harriett trust for purposes
of determining the fair market value of the FOH stock.
Section 2044 was designed to prevent QTIP property from
escaping taxation by including it in the estate of the second
spouse to die. There is, however, no indication that section
2044 mandated identical tax consequences as an outright transfer
to the surviving spouse.
Finally, respondent argues that section 2044(c) is a
valuation section, rather than just an inclusion section. See
Estate of Young v. Commissioner, 110 T.C. 297, 308-309 (1998).
In Estate of Young, we held that section 2040 provides an
"artificial inclusion" of joint tenancy property, the entire
value less any contribution by the surviving joint tenant. Id.
at 315. We rejected the taxpayer's contention that section 2040
was merely an includability section because Congress had provided
an explicit approach to valuing joint tenancy property to be
included in the decedent's gross estate. Id. at 315-316. Thus,
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