Abraham v. Commissioner
United States Tax Court
After the termination of a trust set up by the petitioner for his minor children, he retained the accumulated income during their minority as "guardian" for them as owners, as provided by the trust instrument (the instrument provided that it should "belong to the said children"), with power of direction of investments and reinvestments and to hold and administer the accumulations.
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After the termination of a trust set up by the petitioner for his minor children, he retained the accumulated income during their minority as "guardian" for them as owners, as provided by the trust instrument (the instrument provided that it should "belong to the said children"), with power of direction of investments and reinvestments and to hold and administer the accumulations. At majority the accumulations were to go to the children, and they have been so distributed as to those attaining majority. In case of death of a child before majority, the accumulations were to go to the estate of…
1Opinion of the Court
OPINION.
Disnet, Judge'.
In Helvering v. Abraham, 115 Fed. (2d) 368, we were reversed in holding, as to the year 1934', that the same petitioner here involved was not properly taxed upon the income of a certain trust, the stated term of which terminated on March 30, 1937. We have here the question as to whether, after such date, the trustor should be taxed upon the accumulations of income, administered by him as “guardian,” as provided in the trust instrument. The present contention of respondent is that there was not a substantial surrender of control over the property by the grantor after…
2Cases cited6 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Mallinckrodt v. CommissionerUnited States Tax Court · 1943
- US Trust Co. v. Commissioner of Internal RevenueSupreme Court of the United States · 1936
- Cartinhour v. CommissionerUnited States Tax Court · 1944
- Rentschler v. CommissionerUnited States Tax Court · 1943
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Abraham v. CommissionerUnited States Tax Court · 1944