Estate of Concordia v. Commissioner
United States Tax Court
84 T.C.M. (CCH) 254 (2002)
- Written by Daniel Clark, JD
Facts
Mary Concordia owned a house on Western Avenue in which she lived with her sister until her sister’s death. Concordia and her sister had also owned a house on Bradley Lane, which Concordia’s sister had managed as a rental property. Concordia became the sole owner of both properties when her sister died. Concordia did not wish to live alone, and so she made several arrangements with one of her nieces, Mrs. McReady, and the niece’s husband, Mr. McReady, all as part of a unified plan. First, Concordia conveyed the house on Western Avenue to herself and Mrs. McReady as joint tenants with a right of survivorship; the McReadys’ daughters lived in this house and cared for Concordia’s dogs there. Second, Mr. McReady took on the responsibilities of managing the house on Bradley Lane as a rental property. Third, Concordia moved in with the McReadys and lived there until her death. After Concordia’s death, her estate (plaintiff) sought to include only 50 percent of the value of the Western Avenue house in her gross estate. The Internal Revenue Service (IRS) (defendant) determined that the full value of the Western Avenue house should be included and issued a deficiency. Concordia’s estate filed a petition in United States Tax Court challenging the IRS’s determination.
Rule of Law
Issue
Holding and Reasoning (Gerber, J.)
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