Traiser v. Commissioner
United States Board of Tax Appeals
During 1935 the estate of Richard E. Traiser received taxable and nontaxable income and distributed part of its total income to beneficiaries. The respondent held that the distribution was made ratably from the taxable income and the nontaxable income available for distribution and disallowed the deduction from the taxable income of such part of the distribution as came from the nontaxable income.
Read the full summary
During 1935 the estate of Richard E. Traiser received taxable and nontaxable income and distributed part of its total income to beneficiaries. The respondent held that the distribution was made ratably from the taxable income and the nontaxable income available for distribution and disallowed the deduction from the taxable income of such part of the distribution as came from the nontaxable income. Held, that the estate is not entitled to the deduction of such part of the distribution as came from the nontaxable income. Held,further, that since the distribution of the taxable income was in…
1Opinion of the Court
OPINION.
Smith :
This proceeding is for the redetermination of a deficiency in income tax of the petitioner for 1935 in the amount of $1,011.72. The petition alleges that the respondent erred in the determination of the deficiency by disallowing the deduction from gross income of a part of the executor’s compensation paid by the estate during the taxable year and a part of the distributions made to two beneficiaries, and also in disallowing a portion of the credit claimed for dividends received by the estate.
The facts in this case are presented by (1) respondent’s deficiency notice, (2) the…
2Cases cited2 opinions
- Edwards v. DouglasSupreme Court of the United States · 1925
- Mason v. RoutzahnSupreme Court of the United States · 1927
3Cited by3 opinions
- Muir v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1950
- Letts v. CommissionerUnited States Tax Court · 1944
- Traiser v. CommissionerUnited States Board of Tax Appeals · 1940