Legal Opinion
McAllister v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided August 6, 1946No. 266, Docket 20178PublishedCited by 46 opinions
1Opinion of the Court
CLARK, Circuit Judge.
This petition for review presents the question whether the sum of $55,000 received by petitioner on “transfer” or “surrender” of her life interest in a trust to the remainderman constitutes gross income under I.R.C. § 22(a), 26 U.S.C.A. Int.Rev. Code, § 22(a), or receipts from the sale of capital assets as defined in I.R.C. § 117(a) (1), 26 U.S.C.A. Int.Rev.Code, § 117(a) (1). As we shall see, some significance seemingly is attached to a choice between the two words set in quotation marks as a description of the transaction. Petitioner contends that the life estate was a…
2Cases cited11 opinions
- Helvering v. HorstSupreme Court of the United States · 1940
- Blair v. CommissionerSupreme Court of the United States · 1937
- Harrison v. SchaffnerSupreme Court of the United States · 1941
- Hort v. CommissionerSupreme Court of the United States · 1941
- Bell's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1943
6 more not listed; retrieve them via the Exa API.
3Cited by46 opinions
- Commissioner of Internal Revenue v. Golonsky. Commissioner of Internal Revenue v. GoldCourt of Appeals for the Third Circuit · 1952
- Commissioner of Internal Revenue v. Starr Bros., IncCourt of Appeals for the Second Circuit · 1953
- Commissioner of Internal Revenue v. RayCourt of Appeals for the Fifth Circuit · 1954
- Commissioner of Internal Revenue v. McCue Bros. & Drummond, IncCourt of Appeals for the Second Circuit · 1954
- Sloane v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1951
41 more not listed; retrieve them via the Exa API.