Bullard v. Commissioner
United States Tax Court
1. Payments of proceeds of life insurance policies received by petitioner in installments, at her election exercised after the insured's death, are not taxable to her. Commissioner v. Pierce, 146 Fed.
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1. Payments of proceeds of life insurance policies received by petitioner in installments, at her election exercised after the insured's death, are not taxable to her. Commissioner v. Pierce, 146 Fed. (2d) 388, affirming 2 T. C. 832, followed. 2. Pursuant to terms of decedent's will, monthly payments made by executors to petitioner, to be charged against her share in the income from his estate pending settlement of the estate and establishment of trust under which she was to receive the net income from its corpus for life, held, taxable to her as income. Irwin v. Gavit, 268 U.S. 161.
1Opinion of the Court
Lola G. Bullard, Petitioner, v. Commissioner of Internal Revenue, Respondent
Bullard v. Commissioner
Docket No. 6546
United States Tax Court
5 T.C. 1346; 1945 U.S. Tax Ct. LEXIS 1;
December 29, 1945, Promulgated
Decision will be entered under Rule 50.
1. Payments of proceeds of life insurance policies received by petitioner in installments, at her election exercised after the insured's death, are not taxable to her. Commissioner v. Pierce, 146 Fed. (2d) 388, affirming 2 T. C. 832, followed.
2. Pursuant to terms of decedent's will, monthly payments made by executors to petitioner, to be charged…
2Cases cited3 opinions
- Irwin v. GavitSupreme Court of the United States · 1925
- Pierce v. CommissionerUnited States Tax Court · 1943
- Bullard v. CommissionerUnited States Tax Court · 1945