Northern Trust Co. v. Commissioner
United States Tax Court
1. Under a will which sets up a trust in which the trustee is required to pay the beneficiary $ 12,000 a year from income if sufficient, or if not sufficient, then $ 500 a month in any event, invading the corpus if necessary to pay such $ 500 a month, held, the $ 500 a month was an annuity which is not deductible by the trustee, and the additional amount of $ 6,000 to make up the $ 12,000 a year is a distribution of income and is deductible. 2. Under another provision of the…
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1. Under a will which sets up a trust in which the trustee is required to pay the beneficiary $ 12,000 a year from income if sufficient, or if not sufficient, then $ 500 a month in any event, invading the corpus if necessary to pay such $ 500 a month, held, the $ 500 a month was an annuity which is not deductible by the trustee, and the additional amount of $ 6,000 to make up the $ 12,000 a year is a distribution of income and is deductible. 2. Under another provision of the will, the executrix was required to transfer to the trustee assets out of which to pay the said $ 500 a month and,…
1Opinion of the Court
The Northern Trust Company, as Distributee of the Estate of Daniel Burkhartsmeier, Deceased, Addressed as Estate of Daniel Burkhartsmeier, Deceased, Petitioner, v. Commissioner of Internal Revenue, Respondent. The Northern Trust Company, as Trustee Addressed as "Daniel Burkhartsmeier Trust Under Will, #14568, the Northern Trust Company, Trustee," Petitioner, v. Commissioner of Internal Revenue, Respondent
Northern Trust Co. v. Commissioner
Docket Nos. 1648, 1768
United States Tax Court
4 T.C. 529; 1945 U.S. Tax Ct. LEXIS 258;
January 3, 1945, Promulgated
Decision in each case will be entered under…
2Cases cited4 opinions
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Frankel v. CommissionerUnited States Tax Court · 1944
- Coleman Trust v. CommissionerUnited States Tax Court · 1944
- Northern Trust Co. v. CommissionerUnited States Tax Court · 1945