Eisenmenger v. Commissioner
United States Board of Tax Appeals
Petitioner's husband created a trust for the benefit of petitioner during her lifetime and for the benefit of his sisters and their children after petitioner's death. The corpus of the trust consisted solely of stock of a personal holding company. During taxable years the trust received dividends in the form of cash and deferred debenture notes.
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Petitioner's husband created a trust for the benefit of petitioner during her lifetime and for the benefit of his sisters and their children after petitioner's death. The corpus of the trust consisted solely of stock of a personal holding company. During taxable years the trust received dividends in the form of cash and deferred debenture notes. Held: (1) The general intent of the grantor as gathered from the whole instrument was that petitioner should receive the net annual income of the trust during her lifetime. (2) Respondent properly included both the cash and the debenture notes in the…
1Opinion of the Court
OPINION.
Mellott:
This proceeding involves a deficiency in income tax in the amount of $8,458.47, of which $1,847.48 is for the calendar year 1986 and $1,610.99 for the calendar year 1937.
There is no substantial dispute between the parties as to the facts. They were all admitted in the pleadings, orally stipulated at the hearing, or contained in documents introduced in evidence without objection or subject only to an objection as to materiality.
The major issue is whether dividends, received during the taxable years by a trust in the form of deferred debenture notes, constituted income currently…
2Cases cited13 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Dittemore v. DickeyMassachusetts Supreme Judicial Court · 1924
- Bear v. Millikin Trust Co.Illinois Supreme Court · 1929
- Buck v. HuntleySupreme Court of Minnesota · 1922
- Knowlton v. . AtkinsNew York Court of Appeals · 1892
8 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Bosch v. CommissionerUnited States Tax Court · 1964
- Britenstool v. CommissionerUnited States Tax Court · 1966
- Bosch v. CommissionerUnited States Tax Court · 1964
- Britenstool v. CommissionerUnited States Tax Court · 1966
- Eisenmenger v. CommissionerUnited States Tax Court · 1943
1 more not listed; retrieve them via the Exa API.