Legal Opinion
Gilmore v Commissioner of Internal Revenue
Court of Appeals for the Sixth Circuit
Decided June 2, 1954No. 12037_1PublishedCited by 28 opinions
1Opinion of the Court
McALLISTER, Circuit Judge.
The issue in this case is whether a gift of property in trust for the benefit of minors, providing' that the trustees pay the principal and income to the beneficiaries upon their demand, with a further provision, permitting the trustees to invest the trust funds in income or non-income producing investments,. is a gift of a present interest. If such gift is one of a present interest, it is not taxable to the donor under Title 26 U.S.C.A. § 1003 (b) (3). If the gift is one of a future interest, the donor,' under the circumstances of this case, is taxable. The…
2Cases cited4 opinions
- United States v. PelzerSupreme Court of the United States · 1941
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Kieckhefer v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1951
- Commissioner of Internal Revenue v. KempnerCourt of Appeals for the Fifth Circuit · 1942
3Cited by28 opinions
- Applied Genetics International, Inc. v. First Affiliated Securities, Inc.Court of Appeals for the Tenth Circuit · 1990
- Estate of Cristofani v. CommissionerUnited States Tax Court · 1991
- Thorrez v. CommissionerUnited States Tax Court · 1958
- D. Clifford Crummey v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1968
- Perkins v. CommissionerUnited States Tax Court · 1956
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