Prouty v. Commissioner
United States Board of Tax Appeals
1. Where a revocable trust so remained for a portion of the taxable year 1927 and the record does not show that the dividends or any portion thereof arising from the trust and received by the trustee in that year were received after the trust ceased to be revocable within the meaning of section 219(g) of the Revenue Act of 1926, the dividends should be included in computing the net income of the grantor for the taxable year 1927, as determined by the Commissioner. 2. A trust…
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1. Where a revocable trust so remained for a portion of the taxable year 1927 and the record does not show that the dividends or any portion thereof arising from the trust and received by the trustee in that year were received after the trust ceased to be revocable within the meaning of section 219(g) of the Revenue Act of 1926, the dividends should be included in computing the net income of the grantor for the taxable year 1927, as determined by the Commissioner. 2. A trust is not revocable within the meaning of section 219(g) of the Revenue Act of 1926 or of section 166 of the Revenue Act…
1Opinion of the Court
*1073OPINION.
Seaweuo :
The issue in this proceeding is whether certain dividends received in 1927 and 1928 by the trustees of six trusts created by the petitioner are, under the circumstances detailed in our findings of fact, taxable to the petitioner.
In each of the three trusts, Nos. 1, 2, and 8, constituting the first set of trusts, the trust instruments provided' that the petitioner, “ Olive H. Prouty expressly reserves to herself the right and power from time to time to change, add to, alter, amend or cancel any or all of the provisions of this declaration of trust * *
Section 219 (g) of the…
2Cases cited5 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- Stetson v. CommissionerUnited States Board of Tax Appeals · 1932
- Lit v. CommissionerUnited States Board of Tax Appeals · 1933
- Holmes v. CommissionerUnited States Board of Tax Appeals · 1933
- Hormel v. CommissionerUnited States Board of Tax Appeals · 1932
3Cited by1 opinion
- Prouty v. CommissionerUnited States Board of Tax Appeals · 1934