The Commissioner determined a deficiency of $30,712.50 in petitioner's gift tax for 1943 by treating as a gift her transfer of $120,000 to a trust created for the benefit of her estranged daughter. The transfer was made pursuant to an agreement whereby the daughter released petitioner from claims for property which the daughter had transferred to petitioner in 1934 without consideration and allegedly under duress. Petitioner contends that she made the transfer for an adequate...
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