ESTATE OF HARTSHORNE v. COMMISSIONER

Docket No. 2190-65.

48 T.C. 882 (1967)

ESTATE OF HAROLD HARTSHORNE, DECEASED, HAROLD HARTSHORNE, JR., AND JAMES M. HARTSHORNE, EXECUTORS, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 21, 1967.


Attorney(s) appearing for the Case

Francis J. Rogers, for the petitioners.

James Q. Smith and Richard E. Ingram, for the respondent.


ARUNDELL, Judge:

Respondent determined a deficiency in estate tax in the amount of $184,563.60 in respect of the Estate of Harold Hartshorne. Petitioners assign three errors as follows:

A. In valuing decedents one-half interest in real property located in Bar Harbor, Maine, at $10,000.00, whereas the true value of said interest was $7,021.49.

B. In disallowing as a deduction to the extent of $231,496.38 the obligation or debt of the estate created...

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