Smart v. Commissioner
United States Tax Court
Petitioner was a cotrustee of a trust from about 1933 to 1944, and as such he received commissions for collecting the income of the trust and also compensation for looking after the corpus.
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Petitioner was a cotrustee of a trust from about 1933 to 1944, and as such he received commissions for collecting the income of the trust and also compensation for looking after the corpus. In determining whether petitioner is entitled to the relief provided for in section 107, I. R. C., as amended, for the taxable year 1941, held, the "total compensation for personal services," as that term is used in the code, must include both the commissions for collecting income and also the compensation for looking after the corpus. In applying this test petitioner did not receive in the taxable year at…
1Opinion of the Court
Paul H. Smart, Petitioner, v. Commissioner of Internal Revenue, Respondent
Smart v. Commissioner
Docket No. 911
United States Tax Court
4 T.C. 846; 1945 U.S. Tax Ct. LEXIS 219;
February 27, 1945, Promulgated
Decision will be entered for the respondent.
Petitioner was a cotrustee of a trust from about 1933 to 1944, and as such he received commissions for collecting the income of the trust and also compensation for looking after the corpus. In determining whether petitioner is entitled to the relief provided for in section 107, I. R. C., as amended, for the taxable year 1941, held, the "total…
2Cases cited3 opinions
- Civiletti v. CommissionerUnited States Tax Court · 1944
- Slough v. CommissionerUnited States Tax Court · 1944
- Smart v. CommissionerUnited States Tax Court · 1945