Estate of Fujishima v. Comr., T.C. Memo. 2012-6

(at time of decedent's death, decedent owned three life insurance policies with two payable to the decedent's mother and one payable to a brother; estate also included stock and note from corporation for $10,000; estate, on Form 706, reported two policies payable to mother, did not report note and claimed deductions for executor fees; deductions disallowed due to lack of substantiation and proceeds of third policy should have been included in estate value; court upheld determinations of IRS except that, pursuant to I.R.C. Sec. 2053, court held that estate entitled to deduct administration expenses that the estate actually incurred). 

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