Tyler Trust Commissioner
United States Tax Court
The petitioners as trustees of a testamentary trust paid the entire net income of the trust for 1941 to charitable and educational institutions. The amount so paid was in excess of the net income of the trust for the taxable year.
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The petitioners as trustees of a testamentary trust paid the entire net income of the trust for 1941 to charitable and educational institutions. The amount so paid was in excess of the net income of the trust for the taxable year. Included in the gross income was a capital gain in the amount of $ 860.25. Under the terms of the trust instrument as construed by the Court of Appeals of Cuyahoga County, Ohio, the entire net income was payable to such institutions and remainders over were also to go to the same institutions upon the termination of the trust. Held, that petitioners had no net…
1Opinion of the Court
Marion C. Tyler Trust, Proctor Patterson, Earl P. Disbro, and John B. Dempsey, Trustees, Petitioners, v. Commissioner of Internal Revenue, Respondent
Tyler Trust Commissioner
Docket No. 6640
United States Tax Court
5 T.C. 729; 1945 U.S. Tax Ct. LEXIS 83;
September 14, 1945, Promulgated
Decision of no deficiency will be entered.
The petitioners as trustees of a testamentary trust paid the entire net income of the trust for 1941 to charitable and educational institutions. The amount so paid was in excess of the net income of the trust for the taxable year. Included in the gross income was a capital…
2Cases cited3 opinions
- Old Colony Trust Co. v. CommissionerSupreme Court of the United States · 1937
- Rogers v. CommissionerUnited States Tax Court · 1943
- Tyler Trust CommissionerUnited States Tax Court · 1945