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decedent’s taxable estate by the amount of gift taxes paid by or
on behalf of decedent on gifts made within 3 years of his death
($4,680,284). Respondent also increased the amount of decedent’s
adjusted taxable gifts and total gift taxes payable to reflect
his determination that decedent’s 1991 and 1992 gifts of National
Fruit stock should be valued at $109 per share instead of $100
per share, as reported by decedent on the 1991 and 1992 gift tax
returns. Respondent also disallowed the estate’s claimed
deductions for certain administrative expenses.
Discussion
A. Gift Taxes Includable in Decedent’s Estate
Respondent seeks summary judgment that under section
2035(c), decedent’s gross estate includes $4,680,284 of gift
taxes paid by or on behalf of decedent with respect to his 1991
and 1992 gifts of National Fruit stock.4
Section 2035(c) provides, in relevant part, that the gross
estate includes the amount of any Federal gift tax paid “by the
decedent or his estate on any gift made by the decedent or his
4 In his motion for partial summary judgment, respondent
seeks summary judgment on these two related issues: (1) The
amount of gift taxes includable in decedent’s estate under sec.
2035(c); and (2) whether the amount of gift taxes includable
under sec. 2035(c) should be reduced by consideration that the
estate alleges decedent received for the gifts or for payment of
the gift taxes. Because the first issue subsumes the second, we
address both issues together.
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