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C. Amount Included in Decedent’s Estate Under Section
2036(a)
We now turn to the issue of which assets are to be included in
decedent’s gross estate, bearing in mind that the burden of proof
is on respondent.
The assets of the Turner Partnership (and the values of those
assets) as of July 1993 (upon contribution to the partnership) and
May 15, 1995 (decedent’s date of death), were as follows:
7/93 5/15/95
Shares Value Shares Value
Decedent’s contribution
Municipal bonds
Chester Co --- $50,180 --- 15,118
Madison Co --- 10,327 --- 12,000
PA Higher Ed --- 50,472 --- 5,020
Puerto Rico --- 5,246 --- 5,016
Dela. State --- 52,131 --- ---
Stocks
Atlantic Richfield 100 11,575 100 11,475
Coca Cola 2,400 103,8002,400 138,900
GTE 11,200 404,600 11,200 383,600
General Electric 1,600 157,600 3,200 184,400
Intercap Qual Muni Inv. 2,000 32,000 2,950 42,775
Intercap Qual Muni Inc. 1,200 18,150 -–- ---
IBM 426 18,957 426 40,470
Johnson & Johnson 600 21,900 600 38,175
Merck 900 27,563 900 38,025
Meridian Bankcorp 1,000 32,125 1,000 33,625
3M 200 21,000 400 24,550
Phila. Elec./PECO Energy 500 15,750 500 13,375
Petrolite 3,000 105,000 3,000 93,000
Xerox 1,800 131,400 1,800 217,575
Mutual funds
John Hancock 900 15,894 900 19,710
Margin loan --- --- --- (208,056)
Loans receivable
Phoebe Turner --- 15,000 --- 14,961
William Turner --- 100,000 --- 98,519
George Turner, Jr. --- 10,000 --- 9,843
Decedent’s total 1,410,670 1,232,076
Betsy/George’s Contribution
Cash (checking account) --- 1,000 --- ---
Real Property
Vermont property --- 49,000 --- 49,000
Woodlands --- --- --- 110,000
Woodside Properties --- --- --- 102,416
Betsy’s total 50,000 261,416
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