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for our consideration:1 (1) Whether the estate may exclude one-
half of the value of a residence, of which decedent owned an
undivided joint interest, from the gross estate, and (2) whether
the estate is entitled to deduct $10,070 in mortgage settlement
fees from the gross estate.
FINDINGS OF FACT2
Marie L. Concordia (decedent) was born on November 17, 1911,
and died on June 16, 1996. Decedent’s last will and testament
provided that decedent’s two nieces were to be the sole and equal
beneficiaries of the estate. Beginning in 1951 and until
February 1987, decedent lived in a residence on Western Avenue
(Western). When decedent moved into Western, she resided there
with her mother, sister (the sole beneficiaries’ mother), and two
nieces. Initially, decedent owned Western as a joint tenant with
right of survivorship with her sister and mother.
Decedent’s mother died in 1961, and decedent’s nieces moved
from Western during 1964 and 1967 at the times of their
respective marriages. Decedent and her sister continued to
reside together at Western from 1967 until February 1987, when
decedent’s sister died, leaving decedent as sole surviving owner
and resident of Western. During the early 1970s, decedent and
1 The parties stipulated that the notice of deficiency
contained seven adjustments; only two of them remain in
controversy.
2 The parties’ stipulations of facts are incorporated by
this reference.
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