Estate of Sarah M. Davenport, Deceased, Richard Davenport, Executor - Page 2

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               John D. Mabley, for petitioner.                                        
               John W. Stevens, for respondent.                                       


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               WHERRY, Judge:  Respondent determined a Federal estate tax             
          deficiency of $507,103 for the Estate of Sarah M. Davenport (the            
          estate).  The issues for decision are:                                      
               (1) Whether two annuities payable under a settlement                   
          agreement are includable in the gross estate for Federal tax                
          purposes pursuant to section 2033 or 2039;                                  
               (2) whether, in the event that the annuities are to be                 
          included in the gross estate, they were properly valued by                  
          respondent under section 7520; and                                          
               (3) whether the estate is entitled to a deduction for the              
          cost of a funeral luncheon pursuant to section 2053.1                       
                                  FINDINGS OF FACT                                    
               Some of the facts have been stipulated and are so found.               
          The stipulations of the parties, with accompanying exhibits, are            
          incorporated herein by this reference.  Sarah M. Davenport                  
          (decedent) was a resident of the State of Michigan when she died            
          intestate in that State on October 31, 2000.  Her estate has                


               1 Unless otherwise indicated, section references are to the            
          Internal Revenue Code (Code) in effect as of the date of death of           
          Sarah M. Davenport, and Rule references are to the Tax Court                
          Rules of Practice and Procedure.                                            




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