Legal Opinion
Estate of Jack A. Benjamin, Deceased, John F. Benjamin, Co-Executor and Alice U. Benjamin v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided June 8, 1972No. 71-1153PublishedCited by 2 opinions
1Opinion of the Court
KILEY, Circuit Judge.
The Tax Court decided, 54 T.C. 953 (1970), that a lump payment to the taxpayer,1 secondary beneficiary under an employees’ pension fund annuity contract, is entitled to capital gains treatment. The Commissioner has appealed. We affirm.
Alice U. Benjamin’s husband, Jack A. Benjamin, before his death was employed2 by Uhlmann Grain Company. During Benjamin’s employment Uhlmann established a pension plan trust, qualified under 26 U.S.C. § 401(a), for the exclusive benefit of its employees or their beneficiaries. The plan from its inception was funded by purchases of individual…
2Cases cited5 opinions
- United States v. Ophelia Johnson and Ophelia R. Johnson, as Under the Last Will and Testament of Clifford L. Johnson, DeceasedCourt of Appeals for the Fifth Circuit · 1964
- Richard N. Gunnison and Vivian E. Gunnison v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1972
- Russell v. CommissionerUnited States Tax Court · 1966
- Gordon v. CommissionerUnited States Tax Court · 1956
- Estate of Benjamin v. CommissionerUnited States Tax Court · 1970
3Cited by2 opinions
- Berry v. Cadence Industries Corp.District Court, E.D. Pennsylvania · 1982
- Estate of Jack A. Benjamin, Deceased, John F. Benjamin, Co-Executor and Alice U. Benjamin v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1972