Legal Opinion
Saulsbury v. United States
Court of Appeals for the Fifth Circuit
Decided November 10, 1952No. 13909_1PublishedCited by 52 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
This is the question presented: Whether the net income of a trust, distributable currently to the beneficiary within the meaning of Section 162(b) of the Internal Revenue Code, 26 U.S.C.A. § 162(b), is income taxable to the beneficiary even though it was not actually received by her but was used by the trustee under an order of the state court to pay a loan, the proceeds of which were used to pay federal estate taxes on the corpus of the trust.
The taxpayer is the beneficiary of a trust established by her husband on June 19, 1932. The original trust agreement provided…
2Cases cited13 opinions
- Daine v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1948
- Baltzell v. MitchellCourt of Appeals for the First Circuit · 1925
- First-Mechanics Nat. Bank v. Commissioner of Int. Rev.Court of Appeals for the Third Circuit · 1940
- Doll v. CommissionerCourt of Appeals for the Eighth Circuit · 1945
- Loggie v. ThomasCourt of Appeals for the Fifth Circuit · 1945
8 more not listed; retrieve them via the Exa API.
3Cited by52 opinions
- Aerojet-General Corp. v. AskewCourt of Appeals for the Fifth Circuit · 1975
- Gallagher v. SmithCourt of Appeals for the Third Circuit · 1955
- First National Bank of Montgomery v. United StatesDistrict Court, M.D. Alabama · 1959
- Lois J. Newman (Formerly Lois J. Senderman) v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Brodrick v. GoreCourt of Appeals for the Tenth Circuit · 1955
47 more not listed; retrieve them via the Exa API.