Beers v. Commissioner
United States Board of Tax Appeals
Under a devise of the residue of an estate to trustees for the benefit of the petitioner, directing the trustees to appropriate the rents for his benefit during his minority and to convey the property to him upon attainment of his majority, and containing provisions for gifts over in the event he should die a minor, the petitioner received a vested estate in the property upon the death of the testatrix.
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Under a devise of the residue of an estate to trustees for the benefit of the petitioner, directing the trustees to appropriate the rents for his benefit during his minority and to convey the property to him upon attainment of his majority, and containing provisions for gifts over in the event he should die a minor, the petitioner received a vested estate in the property upon the death of the testatrix. He therefore "acquired" the property at that time, within the meaning of section 113, Revenue Act of 1928, and not when he attained his majority and received a conveyance from the trustees. As…
1Opinion of the Court
DANIEL TRACY BEERS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Beers v. Commissioner
Docket No. 69641.
United States Board of Tax Appeals
31 B.T.A. 117; 1934 BTA LEXIS 1157;
August 29, 1934, Promulgated
Under a devise of the residue of an estate to trustees for the benefit of the petitioner, directing the trustees to appropriate the rents for his benefit during his minority and to convey the property to him upon attainment of his majority, and containing provisions for gifts over in the event he should die a minor, the petitioner received a vested estate in the property upon the…
2Cases cited1 opinion
- Beers v. CommissionerUnited States Board of Tax Appeals · 1934