Legal Opinion
Clinton L. Whittemore, Jr., and Anne W. Whittemore v. United States
Court of Appeals for the Eighth Circuit
Decided November 1, 1967No. 18577_1PublishedCited by 11 opinions
1Opinion of the Court
HEANEY, Circuit Judge.
This case presents the question: Are fiduciary fees for the management, conservation or maintenance of that part of a trust or estate consisting of municipal bonds (the interest income which is tax-free) deductible under 26 U.S.C. § 212 (1964) ? We reverse the decision of the District Court and hold that to the extent that the municipals produced taxable income or were held for that purpose, the fees, whether measured by the income or the value of the municipals, are deductible and that a reasonable basis for determining the deductible portion is the ratio of taxable to…
2Cases cited29 opinions
- Helvering v. HorstSupreme Court of the United States · 1940
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Maryland Casualty Co. v. United StatesSupreme Court of the United States · 1920
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- Willcutts v. BunnSupreme Court of the United States · 1931
24 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- United States v. George Howard Hall and Ruth HallCourt of Appeals for the Eighth Circuit · 1968
- Estate of O'Connor v. CommissionerUnited States Tax Court · 1977
- United States v. James Thomas ClantonCourt of Appeals for the Fifth Circuit · 1969
- Orlo G. Burch and Marjorie C. Burch v. United StatesCourt of Appeals for the Second Circuit · 1983
- August J. Fabens v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1975
6 more not listed; retrieve them via the Exa API.