Titusville Trust Co. v. Commissioner
United States Board of Tax Appeals
The last will and testament of a decedent who died between August 22, 1918, and January 1, 1919, directed that the executors named therein pay his debts and retain all of the personal and real estate then remaining; that the interest and income received therefrom be appropriated to the upkeep of the decedent's property in such proportions as they should deem expedient; that all interest, dividends, and annual proceeds, less the cost of the upkeep of the property, should be…
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The last will and testament of a decedent who died between August 22, 1918, and January 1, 1919, directed that the executors named therein pay his debts and retain all of the personal and real estate then remaining; that the interest and income received therefrom be appropriated to the upkeep of the decedent's property in such proportions as they should deem expedient; that all interest, dividends, and annual proceeds, less the cost of the upkeep of the property, should be paid over to his widow for life; and, upon her death or remarriage, that the entire property be distributed to his five…
1Opinion of the Court
*870OPINION.
Littleton:-
At the time of his determination the Commissioner did not have before him the will of the decedent. He accordingly computed the deficiencies appealed from on the basis of the income of an estate during the period of administration or settlement. Prior to the hearing, however, he obtained the will of the decedent and raised therefrom the issue that the will created a trust, within the meaning of section 219 of the Revenue Act of 1918, and that, therefore, his determination of the deficiencies upon the basis that the income was the income of an estate during the period of…
2Cases cited5 opinions
- White v. DitsonMassachusetts Supreme Judicial Court · 1885
- Perkins v. MooreSupreme Court of Alabama · 1849
- Rixey's Executors v. CommonwealthSupreme Court of Virginia · 1919
- Jones v. Atchison, Topeka, & Santa Fé RailroadMassachusetts Supreme Judicial Court · 1889
- Daggett v. WhiteMassachusetts Supreme Judicial Court · 1880
3Cited by3 opinions
- Ferrer v. CommissionerUnited States Board of Tax Appeals · 1930
- Neuman v. CommissionerUnited States Tax Court · 1969
- Titusville Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1926