Estate of Carruth v. Commissioner
United States Tax Court
L. H. Carruth died testate August 19, 1949, owning property which he had let for a cash rental. In most instances promissory notes payable to the order of L. H. Carruth and becoming due on October 15, 1949, or November 1, 1949, were executed to secure the payment of the rents. L. H. Carruth reported income on the cash basis. In his will, the decedent devised the residue of his estate to a testamentary trust. The trust subsequently collected the rentals mentioned above.
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L. H. Carruth died testate August 19, 1949, owning property which he had let for a cash rental. In most instances promissory notes payable to the order of L. H. Carruth and becoming due on October 15, 1949, or November 1, 1949, were executed to secure the payment of the rents. L. H. Carruth reported income on the cash basis. In his will, the decedent devised the residue of his estate to a testamentary trust. The trust subsequently collected the rentals mentioned above. Rentals in the amount of $ 19,860.25, the pro rata portion of the total at the date of decedent's death, were included in his…
1Opinion of the Court
OPINION.
Bruce, Judge:
In the deficiency notice which was mailed March 24,1955, the respondent determined a deficiency in the income tax of Ostella Carruth for the fiscal year ended January 31, 1950, in the amount of $1,143.02. Ostella Carruth died April 20, 1954. Thomas R. Hamilton is the duly appointed administrator of her estate. One of the adjustments made by the respondent is not in dispute. The following issues remain for decision: (1) Whether the amount of farm rents earned but unpaid prior to the death of L. H. Carruth on August 19,1949, which were collected by the L. H. Carruth Estate…
2Cases cited9 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Lewis v. ReynoldsSupreme Court of the United States · 1932
- Sicanoff Vegetable Oil Corp. v. CommissionerUnited States Tax Court · 1957
- Commissioner of Internal Revenue v. LindeCourt of Appeals for the Ninth Circuit · 1954
- Linde v. CommissionerUnited States Tax Court · 1951
4 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Polk v. CommissionerUnited States Tax Court · 1958
- Bachner v. CommissionerUnited States Tax Court · 1997
- Midland National Bank of Billings v. United StatesDistrict Court, D. Montana · 1959
- Morris v. CommissionerUnited States Tax Court · 1966
- LIMITED GAMING OF AMERICA, INC. v. COMMISSIONERUnited States Tax Court · 2001
5 more not listed; retrieve them via the Exa API.