ESTATE OF JAYNE v. COMMISSIONER

Docket No. 8453-71.

61 T.C. 744 (1974)

ESTATE OF GEORGE W. JAYNE, DECEASED, MARION P. JAYNE, EXECUTRIX, AND MARION P. JAYNE, SURVIVING SPOUSE, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 14, 1974.


Attorney(s) appearing for the Case

Anna R. Lavin, for the petitioner.

James F. Hanley, Jr., for the respondent.


WILES, Judge:

Respondent determined a deficiency in the income tax of petitioner for the taxable year 1966 in the amount of $219,846.61. Several issues have been settled by the parties. The only issue remaining for our consideration is whether the acquisition of property by a surviving spouse in her own right qualifies as a replacement of property for purposes of applying the nonrecognition provisions of section 1033.1

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