BLANEY v. COMMISSIONER
United States Board of Tax Appeals
The petitioner, under a trust established by the will of her father, had an equitable life interest therein consisting of the right to receive one-sixth of the income of the trust. On February 21, 1921, petitioner, in consideration of love and affection, assigned to her husband and her children portions of her right to receive such income from the trust.
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The petitioner, under a trust established by the will of her father, had an equitable life interest therein consisting of the right to receive one-sixth of the income of the trust. On February 21, 1921, petitioner, in consideration of love and affection, assigned to her husband and her children portions of her right to receive such income from the trust. Payments, pursuant to the right assigned, were thereafter made by the trustees to the assignees, the first payment in 1921 of $2,250 being made from funds accumulated prior to the assignments. Held, that the amount of $2,250 is income to…
1Opinion of the Court
EDITH H. BLANEY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
BLANEY v. COMMISSIONER
Docket No. 10613.
United States Board of Tax Appeals
13 B.T.A. 1315; 1928 BTA LEXIS 3062;
October 31, 1928, Promulgated
The petitioner, under a trust established by the will of her father, had an equitable life interest therein consisting of the right to receive one-sixth of the income of the trust. On February 21, 1921, petitioner, in consideration of love and affection, assigned to her husband and her children portions of her right to receive such income from the trust. Payments, pursuant to the…
2Cases cited1 opinion
- BLANEY v. COMMISSIONERUnited States Board of Tax Appeals · 1928