Ink v. Commissioner
United States Board of Tax Appeals
Decedent, by his will, gave petitioner an annuity of $24,000 per year and made it a specific charge against certain real estate devised to others. His executors were directed to hold his personal estate intact for five years and if rentals of the real estate securing the annuity were insufficient to meet the payments, to supplement such security by transfers from the personal estate. The rentals in question were sufficient to meet the annuity payments.
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Decedent, by his will, gave petitioner an annuity of $24,000 per year and made it a specific charge against certain real estate devised to others. His executors were directed to hold his personal estate intact for five years and if rentals of the real estate securing the annuity were insufficient to meet the payments, to supplement such security by transfers from the personal estate. The rentals in question were sufficient to meet the annuity payments. The five-year period elapsed during the taxable year, after $4,000 of the total payments to be made petitioner for that year had been made.…
1Opinion of the Court
MARY INK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Ink v. Commissioner
Docket No. 75731.
United States Board of Tax Appeals
35 B.T.A. 846; 1937 BTA LEXIS 828;
April 6, 1937, Promulgated
Decedent, by his will, gave petitioner an annuity of $24,000 per year and made it a specific charge against certain real estate devised to others. His executors were directed to hold his personal estate intact for five years and if rentals of the real estate securing the annuity were insufficient to meet the payments, to supplement such security by transfers from the personal estate. The rentals…
2Cases cited8 opinions
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Burnet v. WhitehouseSupreme Court of the United States · 1931
- Bridgeport-City Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1935
- Bay Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1936
- Ink v. CommissionerUnited States Board of Tax Appeals · 1937
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