Hahn v. Commissioner

Board of Tax Appeals

Hahn v. Commissioner

38 B.T.A. 3, 1938 BTA LEXIS 927

CourtUnited States Board of Tax Appeals

DecidedJuly 8, 1938

DocketDocket No. 90310.

StatusPublished

Cited by2 cases

This text of 38 B.T.A. 3 (Hahn v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Hahn v. Commissioner, 38 B.T.A. 3, 1938 BTA LEXIS 927 (bta 1938).

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Opinion

[4]*4OPINION.

Murdock :

Section 302 (g) of the Revenue Act of 1926 includes in the gross estate “the excess over $40,000 of the amount receivable by all other beneficiaries [than the executor] as insurance under policies taken out by the decedent upon his own life.” That provision does not cover these policies, since they were not taken out by the decedent. Furthermore, he did not own the policies and actually had none of the indicia of ownership such as possession, power to pledge, or power to surrender. He had a limited power to name and change the beneficiary, but that was only with the approval of the owner, William Hahn & Co. The Commissioner erred in including the value of these policies in the decedent’s gross estate.

Decision wUl 5c entered imder Bule 60.

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[4]*4OPINION.

Murdock :

Section 302 (g) of the Revenue Act of 1926 includes in the gross estate “the excess over $40,000 of the amount receivable by all other beneficiaries [than the executor] as insurance under policies taken out by the decedent upon his own life.” That provision does not cover these policies, since they were not taken out by the decedent. Furthermore, he did not own the policies and actually had none of the indicia of ownership such as possession, power to pledge, or power to surrender. He had a limited power to name and change the beneficiary, but that was only with the approval of the owner, William Hahn & Co. The Commissioner erred in including the value of these policies in the decedent’s gross estate.

Decision wUl 5c entered imder Bule 60.

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Bluebook (online)

38 B.T.A. 3, 1938 BTA LEXIS 927, Counsel Stack Legal Research, https://law.counselstack.com/opinion/hahn-v-commissioner-bta-1938.

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