Wolf v. Commissioner
United States Board of Tax Appeals
Interest on an undistributed pecuniary legacy, paid out of income of the estate to a legatee widow pursuant to section 21, Pennsylvania Fiduciaries' Act of 1917, held, income taxable to the recipient and not a tax free bequest or allowance for maintenance and support.
1Opinion of the Court
opinion.
StbRniiagen :
The Commissioner determined a deficiency of $2,560.17 in petitioner’s individual income tax for 1931. The facts are stipulated and special findings are therefore not necessary.
*960Petitioner’s husband died February 16, 1931, leaving a will containing several bequests to his wife, to his children, and to others, and leaving his residuary estate in trust, the income thereof payable to his wife for life. Among the bequests was one of $600,000 to the petitioner. The will contained no provision in respect of interest upon this legacy. On September 9, 1931, the executors made a…
2Cases cited9 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Irwin v. GavitSupreme Court of the United States · 1925
- Burnet v. WhitehouseSupreme Court of the United States · 1931
- Todd's EstateSupreme Court of Pennsylvania · 1912
- Koon's AppealSupreme Court of Pennsylvania · 1886
4 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Wolf v. CommissionerUnited States Board of Tax Appeals · 1935