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Determination of Administration Expense Is Question of Federal Law
Beginning of article
The U.S. Court of Appeals for the Fourth Circuit has joined the Second, Fifth, and Ninth Circuits in holding that federal law controls in the determination of whether an expenditure is deductible as an administrative expense (Love Est. v. Comr., 91-1 USTC para. 60,056 (4th Circuit 1991).
The Case of Love
Prior to death, Margaret Love entered into an agreement to have one of her mares bred. The agreement provided that the owner of the stallion was to receive a one-half interest in any offspring instead of a straight fee. The agreement also provided that Love would pay the owner of the stallion a fixed fee in the event of disaster, such as bankruptcy or death, so that the …
