Maguire v. Commissioner

The taxpayer’s 1 share of a testamentary trust, established pursuant to the. will of her father, was delivered to her in kind in 1923. The property was personalty, part of which had been owned by the decedent and part purchased by the trustees. The decedent died in 1903 and his executors were discharged by the probate court in 1905. Pursuant to that order the executors turned over to themselves, as trustees, all of the residue of the ■estate. 2 Erom that residue the taxpayer’s claim to the property in question derived. During the year 1930 parts of both groups of property were sold. 3 The…