Mayer v. Commissioner
United States Board of Tax Appeals
The petitioner is a Pennsylvania trust estate, and during the years 1920 to 1923, both inclusive, the income was distributed in part and accumulated in part. However, under the law of Pennsylvania, the entire income was distributable. Held that said income is taxable only to the beneficiaries under section 219(d) of the Revenue Acts of 1918 and 1921.
1Opinion of the Court
*1167OPINION.
Trammell :
The petitioner in its pleadings called in question the correctness of the net income for the taxable years as computed by the respondent, and alleged that the respondent erred in the calculation of rentals received and in determining the amount of profit derived from the sale of real estate. These issues were settled by virtue of a stipulation of the parties, filed at the hearing, wherein was set forth the amount of the correct net income for each taxable year. The amounts so stipulated we have adopted and set out in our findings of fact above, and the redetermination of the…
2Cases cited7 opinions
- Grim's AppealSupreme Court of Pennsylvania · 1885
- Bair & Gazzam, Lim. v. HubarttSupreme Court of Pennsylvania · 1891
- McKee's AppealSupreme Court of Pennsylvania · 1881
- Dallam v. FitlerSupreme Court of Pennsylvania · 1843
- In re Estate of EdwardsSupreme Court of Pennsylvania · 1899
2 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Roebling v. CommissionerUnited States Board of Tax Appeals · 1933
- Guitar Trust Estate v. CommissionerUnited States Board of Tax Appeals · 1932
- Mayer v. CommissionerUnited States Board of Tax Appeals · 1929
- McCrory v. CommissionerUnited States Board of Tax Appeals · 1932