Legal Opinion
Knight v. Commissioner
Supreme Court of the United States
Decided January 16, 2008No. 06-1286PublishedCited by 43 opinions
1Opinion of the CourtChief Justice Roberts
Under the Internal Revenue Code, individuals may subtract from their adjusted gross income certain itemized deductions, but only to the extent the deductions exceed 2% of adjusted gross income. A trust may also claim those deductions, also subject to the 2% floor, except that costs incurred in the administration of the trust, which would not have been incurred if the trust property were not held by a trust, may be deducted without regard to the floor. In the case of individuals, investment advisory fees are subject to the 2% floor; the question presented is whether such fees are also subject…
2Cases cited12 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Williams v. TaylorSupreme Court of the United States · 2000
- Indopco, Inc. v. CommissionerSupreme Court of the United States · 1992
- Interstate Transit Lines v. CommissionerSupreme Court of the United States · 1943
- Cooper Industries, Inc. v. Aviall Services, Inc.Supreme Court of the United States · 2004
7 more not listed; retrieve them via the Exa API.
3Cited by43 opinions
- Trump v. HawaiiSupreme Court of the United States · 2018
- Pension Benefit Guaranty Corp. Ex Rel. Saint Vincent Catholic Medical Centers Retirement Plan v. Morgan Stanley Investment Management Inc.Court of Appeals for the Second Circuit · 2013
- Nat'l Labor Relations Bd. v. SW Gen., Inc.Supreme Court of the United States · 2017
- Richard Tatum v. RJR Pension Investment CommitteeCourt of Appeals for the Fourth Circuit · 2014
- California Wilderness Coalition v. U.S. Department of EnergyCourt of Appeals for the Ninth Circuit · 2011
38 more not listed; retrieve them via the Exa API.