Anderson v. Commissioner
United States Tax Court
Petitioner, in 1919, created a trust, with a corporate trustee. The trust instrument provided that $ 800 a month be paid by the trustee out of net income to the wife of petitioner, and that any net income in excess of that amount be paid to petitioner. Upon the death of either petitioner or his wife, the net income and corpus became payable to the survivor.
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Petitioner, in 1919, created a trust, with a corporate trustee. The trust instrument provided that $ 800 a month be paid by the trustee out of net income to the wife of petitioner, and that any net income in excess of that amount be paid to petitioner. Upon the death of either petitioner or his wife, the net income and corpus became payable to the survivor. Petitioner retained power during his lifetime to terminate trust and have corpus and accumulated income distributed to his wife, and to direct trustee to sell or exchange any part of corpus and substitute other property. Taxpayer's wife…
1Opinion of the Court
OPINION.
Haelan, Judge-.
Respondent seeks to tax the income of the trust to petitioner under the provisions of sections 22 (a), 166, and 167, of the Internal Revenue Code. In support of his contention that the income is taxable under section 22 (a), he argues that the trust instrument did not establish a valid trust relationship and, if it did, the income is nevertheless taxable to petitioner under the rationale of Helvering v. Clifford, 309 U. S. 331.
We are not impressed with respondent’s argument that a valid trust was not established. In this connection he stresses the provision in paragraph…
2Cases cited8 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Carrier v. . CarrierNew York Court of Appeals · 1919
- Van Cott v. . PrenticeNew York Court of Appeals · 1887
- DuPont v. CommissionerSupreme Court of the United States · 1933
3 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Preston v. CommissionerUnited States Tax Court · 1950
- Tobin v. CommissionerUnited States Tax Court · 1948
- Anderson v. CommissionerUnited States Tax Court · 1947
- Emmett v. CommissionerUnited States Tax Court · 1952
- Estate of Preston v. CommissionerUnited States Tax Court · 1950
3 more not listed; retrieve them via the Exa API.