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ESTATE OF HANNA v. COMMISSIONER

Docket No. 85667.

37 T.C. 63 (1961)

ESTATE OF RUTH HANNA, DECEASED, THE NATIONAL CITY BANK OF CLEVELAND, EXECUTOR, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed October 20, 1961.

Attorney(s) appearing for the Case

Louis A. Boxleitner, Esq., for the petitioner.

Eugene S. Linett, Esq., for the respondent.

OPINION.

TIETJENS, Judge:

The Commissioner determined a deficiency in income tax in the amount of $11,279.78 for the year 1958. The sole issue presented is whether a loss resulting from the redemption of stock by a corporation from a decedent's estate is deductible by the estate when all the stock of the corporation is owned by the estate and its beneficiaries who are sisters.

The National City Bank...

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