Estate of Augusta Porter Forbes - Page 1




                                                                                     











                                 T.C. Memo. 2001-72                                   


                               UNITED STATES TAX COURT                                


                    ESTATE OF AUGUSTA PORTER FORBES, DECEASED,                        
                   FREDERICK W. ORR, JR., EXECUTOR, Petitioner v.                     
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 24492-97.                   Filed March 23, 2001.           


               J. Nelson Irvine, Bruce C. Bailey, and John P. Cowart, Jr.,            
          for petitioner.                                                             
               John W. Sheffield III, for respondent.                                 


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               THORNTON, Judge:  Respondent determined that petitioner is             
          liable for a $1,665,230 deficiency in Federal estate tax and a              
          $222,332 penalty under section 6662(g) for a substantial estate             







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