Edwards v. Commissioner
United States Tax Court
A widow settled her statutory claim against her husband's estate by releasing it in return for a promise of monthly payments from the income of an irrevocable inter vivos spendthrift trust set up by her husband. His son, the trustee and life income beneficiary, agreed to pay her if the trust income became insufficient. The trust income has greatly exceeded the payments to her. The trust is to terminate at the death of the son.
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A widow settled her statutory claim against her husband's estate by releasing it in return for a promise of monthly payments from the income of an irrevocable inter vivos spendthrift trust set up by her husband. His son, the trustee and life income beneficiary, agreed to pay her if the trust income became insufficient. The trust income has greatly exceeded the payments to her. The trust is to terminate at the death of the son. Held: 1. The monthly payments are an inheritance of income from property and not excludible from income under sec. 22(b)(3), I.R.C. 1939, or sec. 102(b), I.R.C. 1954.…
1Opinion of the Court
FORRESTER, Judge:
Respondent has determined deficiencies in income tax against petitioners in Docket No. 83598 for the calendar years 1953,1954, and 1955 and an addition to tax for the year 1953 as follows:
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Certain adjustments have been conceded by these petitioners.
Respondent has determined deficiencies in income tax against petitioner in Docket No. 86533 for the calendar years 1951 to 1955, inclusive, and additions thereto as follows:
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Because of the interrelationship of the issues the cases were consolidated for trial.
The issues remaining for our consideration…
2Cases cited6 opinions
- Lyeth v. HoeySupreme Court of the United States · 1938
- Griffith v. CommissionerUnited States Tax Court · 1961
- Doris B. Harte and Stanley J. Harte v. United StatesCourt of Appeals for the Second Circuit · 1958
- Cadwalader v. CommissionerUnited States Board of Tax Appeals · 1933
- Williams v. CommissionerUnited States Tax Court · 1961
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Cohen v. CommissionerUnited States Tax Court · 1963
- Allen M. Early and Jeannette B. Early v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1971
- Estate of Menkus v. CommissionerUnited States Tax Court · 1962
- Cohen v. CommissionerUnited States Tax Court · 1963
- Edwards v. CommissionerUnited States Tax Court · 1962
1 more not listed; retrieve them via the Exa API.