Kieckhefer v. Commissioner
United States Tax Court
Early in August 1944 petitioner decided to make a gift or series of gifts in trust for the benefit of a grandson who had been born on July 30 of that year. Petitioner's son, father of the grandchild, was, and at all times since has been, amply able financially to support and educate his son. Petitioner consulted his lawyer telling him of his desire to make the gift.
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Early in August 1944 petitioner decided to make a gift or series of gifts in trust for the benefit of a grandson who had been born on July 30 of that year. Petitioner's son, father of the grandchild, was, and at all times since has been, amply able financially to support and educate his son. Petitioner consulted his lawyer telling him of his desire to make the gift. The lawyer advised petitioner that he should avoid the giving of a future interest in property; otherwise he would not have the right to the statutory exclusion under section 1003 (b) (3) of the Internal Revenue Code for gift tax…
1Opinion of the Court
OPINION.
Turner, Judge:
It is the contention of petitioner that the gift made by him in trust in the taxable year for the benefit of his grandson was the gift of a present, not a future, interest within the meaning of section 1003 (b) (3) of the Internal Revenue Code and under the provisions of that section he is entitled to the exclusion therein provided from the total amount of the gift made. On the contrary the respondent contends that on the facts in this case the gift was the gift of a future interest and accordingly petitioner is not entitled to the exclusion claimed.
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2Cases cited11 opinions
- Curry v. McCanlessSupreme Court of the United States · 1939
- United States v. PelzerSupreme Court of the United States · 1941
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Commissioner v. DisstonSupreme Court of the United States · 1945
- Ryerson v. United StatesSupreme Court of the United States · 1941
6 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Stifel v. CommissionerUnited States Tax Court · 1951
- Perkins v. CommissionerUnited States Tax Court · 1956
- Gilmore v. CommissionerUnited States Tax Court · 1953
- Wood v. CommissionerUnited States Tax Court · 1951
- Heidrich v. CommissionerUnited States Tax Court · 1971
21 more not listed; retrieve them via the Exa API.