Grant v. Commissioner
United States Tax Court
Petitioner possessed the right to elect to take any part or all of the net income of a testamentary trust. Any portion of the annual trust income not withdrawn by her was to be added to corpus. She and her son were the trustees. In 1945 she filed a renunciation and release of her rights under the trust provisions.
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Petitioner possessed the right to elect to take any part or all of the net income of a testamentary trust. Any portion of the annual trust income not withdrawn by her was to be added to corpus. She and her son were the trustees. In 1945 she filed a renunciation and release of her rights under the trust provisions. Held, respondent did not err in taxing to petitioner under section 22 (a), Internal Revenue Code, the income of the trust prior to the renunciation of her right thereto.
1Opinion of the Court
OPINION.
Aenold, Judge:
This case involves deficiencies in income and victory taxes for the calendar year 1943, and income tax for the years 1944 and 1945, in the respective amounts of $4,999.94, $6,369.66, and $1,468.59. The issue is whether petitioner is taxable on the income of a testamentary trust created by her deceased husband.
The facts are stipulated and the stipulated facts are adopted as our findings of fact.
Petitioner is the widow of John W. Grant, deceased.
John W. Grant died March 8, 1938. Letters testamentary were issued by the Court of Ordinary of Fulton County, Georgia, qualifying…
2Cases cited10 opinions
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- Freuler v. HelveringSupreme Court of the United States · 1934
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