Furman v. Commissioner
United States Tax Court
Petitioner Irvine and his wife owned real property which was encumbered by two mortgages. Part of the property was used by Irvine in his medical practice and part was occupied as a residence by him and his family. In 1960 they conveyed the property in trust for the benefit of their minor children for 10 years and 5 months, with reversion to Irvine.
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Petitioner Irvine and his wife owned real property which was encumbered by two mortgages. Part of the property was used by Irvine in his medical practice and part was occupied as a residence by him and his family. In 1960 they conveyed the property in trust for the benefit of their minor children for 10 years and 5 months, with reversion to Irvine. Irvine's wife was named trustee and the deed specified that the trustee was to pay the mortgage principal and interest as they fell due. Concurrently with creation of the trust Irvine, in separate leases, rented both the office portion and the…
1Opinion of the Court
Tannenwald, Judge:1
Respondent determined deficiencies in petitioners’ income tax for the years 1960, 1961, and 1962 in the amounts of $613.34, $987.22, and $1,217.59, respectively, initially on the theory that the income of a trust was being distributed to them through its use to discharge their legal obligation and/or accumulated for them in the form of increased equity in the reversion. In his first amended answer respondent contended, in the alternative, that the trust was invalid and that consequently certain rental deductions should be disallowed with the result that the deficiencies…
2Cases cited31 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Skemp v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1948
- Brown v. Commissioner of Internal Revenue (Two Cases)Court of Appeals for the Third Circuit · 1950
- I. L. Van Zandt and Ruth B. Van Zandt v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1965
- Skemp v. CommissionerUnited States Tax Court · 1947
26 more not listed; retrieve them via the Exa API.
3Cited by80 opinions
- Bixby v. CommissionerUnited States Tax Court · 1972
- Zmuda v. CommissionerUnited States Tax Court · 1982
- Markosian v. CommissionerUnited States Tax Court · 1980
- Professional Services v. CommissionerUnited States Tax Court · 1982
- Irvine K. Furman and Lorena K. Furman v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1967
75 more not listed; retrieve them via the Exa API.