Brooks v. Commissioner
United States Tax Court
Decedent had been a participant in his employer's qualified profit-sharing plan, payable in the discretion of the trustees in a lump sum or in installments during a period not exceeding 180 months. Upon his retirement, decedent requested but was denied a lump-sum payment of his interest. Thereafter, decedent's share in the plan was placed in a separate account at decedent's risk, and decedent was allowed to suggest investments.
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Decedent had been a participant in his employer's qualified profit-sharing plan, payable in the discretion of the trustees in a lump sum or in installments during a period not exceeding 180 months. Upon his retirement, decedent requested but was denied a lump-sum payment of his interest. Thereafter, decedent's share in the plan was placed in a separate account at decedent's risk, and decedent was allowed to suggest investments. Decedent received no actual payments of his interest prior to his death. Held, no portion of decedent's interest in the plan is includable in his gross estate. Sec.…
1Opinion of the Court
Estate of Harold S. Brooks, Deceased, Harris Trust and Savings Bank, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Brooks v. Commissioner
Docket No. 2624-66
United States Tax Court
50 T.C. 585; 1968 U.S. Tax Ct. LEXIS 97;
July 22, 1968, Filed
Decision will be entered under rule 50.
Decedent had been a participant in his employer's qualified profit-sharing plan, payable in the discretion of the trustees in a lump sum or in installments during a period not exceeding 180 months. Upon his retirement, decedent requested but was denied a lump-sum payment of his interest. Thereafter,…
2Cases cited9 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- Avery v. CommissionerSupreme Court of the United States · 1934
- Commissioner of Internal Revenue v. OatesCourt of Appeals for the Seventh Circuit · 1953
- Wilson v. CommissionerUnited States Tax Court · 1963
- Albright v. CommissionerUnited States Tax Court · 1964
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