-66- thereof that relates to the limited partnership interest that decedent transferred by gift more than 3 years before her death. We disagree. Petitioners’ argument, as we understand it, is that this Court in Estate of Bongard v. Commissioner, 124 T.C. at 131-132, concluded that section 2035(a), which pertains to assets transferred by gift within 3 years of death, limits the reach of section 2036(a)(1). Petitioners are mistaken. Decedent continued to possess and enjoy the transferred assets up until her death. Accordingly, section 2036(a)(1) includes those assets in her gross estate. 6. Epilog We hold for respondent. We have considered all arguments by petitioners for a contrary holding and find those arguments not discussed herein to be without merit. To reflect the parties’ concessions, Decisions will be entered under Rule 155.Page: Previous 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66
Last modified: May 25, 2011