Helvering v. Butterworth

These causes demand construction and application of the provisions of § 219, Rev. Act of 1924, c. 234, 43 Stat. 253, 275 (U.S.C., Title 26, § 960) copied in the margin,* *368which lay a tax upon “ the income of estates or of any kind of property held in trust,” and direct that, (b) (2), “ There shall be allowed as an additional deduction in computing the net income of the estate or trust the amount of the income of the estate or trust for its. taxable year which is to be distributed currently by the fiduciary to the beneficiaries, . . . but the amount so allowed as a deduction shall be included…