Helvering v. Gambrill

delivered the > opinion of the Court.

The questions involved here are in part the same as those in Maguire v. Commissioner, ante, p. 1. Respond ent was a remainderman under a trust created by the will of his grandmother 1 who died in 1897. The trust res, consisting of personalty, was delivered by the executors to themselves as trustees in 1898. The life beneficiary, respondent’s mother, died in March, 1928. On May 5, 1928, the trustees delivered the corpus to respondent as remainderman. Some of the property was part of the original trust res, and some was purchased by the trustees both prior…