Roosevelt v. Commissioner
United States Board of Tax Appeals
1. Petitioner is the testamentary trustee of the residuary estate under the will of Theodore Roosevelt, who at the date of his death had a vested remainder interest in a testamentary trust created by the will of Cornelius V. S. Roosevelt.
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1. Petitioner is the testamentary trustee of the residuary estate under the will of Theodore Roosevelt, who at the date of his death had a vested remainder interest in a testamentary trust created by the will of Cornelius V. S. Roosevelt. In 1925 petitioner received certain shares of stock from the Cornelius Roosevelt trust, some of which shares were in the trust at the date of Theodore Roosevelt's death and others of which had been purchased by Cornelius Roosevelt's trustees after Theodore Roosevelt's death. All of the stock was sold by petitioner in 1926. Held, that the petitioner acquired…
1Opinion of the Court
*198OPINION.
Matthews :
The petitioner is the testamentary trustee of Theodore Eoosevelt, who died on January 6, 1919, domiciled in New York. The only question involved is the basis to be used in determining gain or loss on the sale by the trustee in 1926 of certain stock received by him on December 31, 1925, from the trustees of the testamentary trust created by Cornelius V. S. Eoosevelt, who died in 1887. Cornelius gave his widow a life estate with remainder over, such remainder interests being charged with the payments of certain annuities. Theodore Eoosevelt was one of the remaindermen. The…
2Cases cited2 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Security Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1931
3Cited by1 opinion
- Roosevelt v. CommissionerUnited States Board of Tax Appeals · 1933