Cherry v. Commissioner
United States Tax Court
Each petitioner created an irrevocable trust for the benefit of his spouse and children, naming himself as one of the trustees. During the lifetime of the grantor broad powers of management are vested in him as a trustee. No part of the corpus may be vested in the grantor and none of the income may be distributed to him or held for future distribution to him.
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Each petitioner created an irrevocable trust for the benefit of his spouse and children, naming himself as one of the trustees. During the lifetime of the grantor broad powers of management are vested in him as a trustee. No part of the corpus may be vested in the grantor and none of the income may be distributed to him or held for future distribution to him. Held that the income of the trust is not taxable to the grantor under Helvering v. Clifford, 309 U.S. 331, nor under section 166 or 167, I. R. C.
1Opinion of the Court
Herbert T. Cherry, Petitioner, v. Commissioner of Internal Revenue, Respondent. Louise H. Cherry, Petitioner, v. Commissioner of Internal Revenue, Respondent
Cherry v. Commissioner
Docket Nos. 110535, 110536
United States Tax Court
3 T.C. 1171; 1944 U.S. Tax Ct. LEXIS 78;
July 31, 1944, Promulgated
Decision will be entered under Rule 50.
Each petitioner created an irrevocable trust for the benefit of his spouse and children, naming himself as one of the trustees. During the lifetime of the grantor broad powers of management are vested in him as a trustee. No part of the corpus may be vested in the…
2Cases cited16 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Cartinhour v. CommissionerUnited States Tax Court · 1944
- Lowenstein v. CommissionerUnited States Tax Court · 1944
- Rentschler v. CommissionerUnited States Tax Court · 1943
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