Balzereit v. Commissioner
United States Board of Tax Appeals
1. Petitioners are the guardians of the estate of a mentally incompetent person who is the life beneficiary of a testamentary trust set up for his benefit by his deceased father. In the taxable year petitioners as guardians received checks in payment of income from the estate of the decedent, which were deposited to the credit of the account of the trustees of the testamentary trust and not to the account of petitioners as guardians.
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1. Petitioners are the guardians of the estate of a mentally incompetent person who is the life beneficiary of a testamentary trust set up for his benefit by his deceased father. In the taxable year petitioners as guardians received checks in payment of income from the estate of the decedent, which were deposited to the credit of the account of the trustees of the testamentary trust and not to the account of petitioners as guardians. No explanation is given as to why the deposit was made in this manner. Held, petitioners actually received the dividends in question as guardians of the estate…
1Opinion of the Court
OPINION.
Black:
The Commissioner has determined a deficiency against petitioners for the year 1932 of $4,240.31. The deficiency results from including in the taxable income of petitioners the amount of $29,-776.15 dividends received from the estate of Leo G. Balzereit. The petitioners attack this action of the Commissioner in the following assignment of error:(a) The Commissioner erred in adding to the income returned by your petitioners the income received by the trustees for George H. Balzereit under the will of Leo G. Balzereit, deceased.
The facts were stipulated and we adopt the stipulation…
2Cited by4 opinions
- Balzereit v. CommissionerUnited States Board of Tax Appeals · 1938
- Balzereit v. CommissionerUnited States Board of Tax Appeals · 1942
- Balzereit v. CommissionerCourt of Appeals for the Third Circuit · 1939
- Meier v. CommissionerUnited States Tax Court · 1945