The respondent determined a deficiency in estate tax in the sum of $16,435.52 against the estate of John W. Holmes.
The principal issue in controversy is whether or not the petitioners are entitled to a deduction from gross estate for a residual bequest to a charitable institution. If the principal issue is decided in the petitioners' favor, a further issue arises as to the amount of the present value of the charitable bequest.
The evidence consists of certain...
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