McCandless v. Commissioner
United States Board of Tax Appeals
1. During the taxable year a portion of the income of the decedent's estate in process of administration or settlement was turned over to the trustee of a testamentary trust, which returned it, less deductible expense, for income tax.
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1. During the taxable year a portion of the income of the decedent's estate in process of administration or settlement was turned over to the trustee of a testamentary trust, which returned it, less deductible expense, for income tax. Held, following Estate of Ida A. White,41 B.T.A. 525, that the amount so turned over to the trustee is a legal deduction from gross income under section 162(c) of the Revenue Act of 1934. 2. During the taxable year the petitioner paid the fees and traveling expenses of an accountant incurred in adjusting petitioner's income taxes for prior taxable years. Held,…
1Opinion of the Court
OPINION.
Smith:
This is a proceeding for the redetermination of a deficiency of $15,408.33 in income tax of the estate of John A. McCandless, deceased, during the period of administration or settlement for the fiscal year ended January 31, 1936. Only a portion of the deficiency is in controversy.
The petitioner alleges that the respondent erred in disallowing the deduction from gross income of (1) $2,925 professional fees and $1,859.35 traveling expenses which were paid by the estate during the taxable year as ordinary and necessary expenses incurred in carrying on its business, and (2)…
2Cases cited1 opinion
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
3Cited by5 opinions
- Dunlop v. CommissionerCourt of Appeals for the Eighth Circuit · 1948
- Estate of Burchenal v. CommissionerUnited States Tax Court · 1944
- Estate of McCandless v. CommissionerUnited States Tax Court · 1944
- McCandless v. CommissionerUnited States Board of Tax Appeals · 1940
- Slaughter v. CommissionerUnited States Tax Court · 1943