Lerner v. Commissioner
United States Tax Court
Petitioner Hobart A. Lerner, an ophthalmologist, incorporated his practice into Hobart A. Lerner, M.D., P.C. He paid cash for all the issued stock of the corporation. At the same time, he created a trust for the benefit of his children which was to terminate in 10 years and 1 month, and transferred all of his medical equipment and furnishings to the trust. All of the net income of the trust was to be distributed to his children at least annually.
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Petitioner Hobart A. Lerner, an ophthalmologist, incorporated his practice into Hobart A. Lerner, M.D., P.C. He paid cash for all the issued stock of the corporation. At the same time, he created a trust for the benefit of his children which was to terminate in 10 years and 1 month, and transferred all of his medical equipment and furnishings to the trust. All of the net income of the trust was to be distributed to his children at least annually. Upon termination of the trust, the corpus and any accumulated income was to revert to Dr. Lerner. Dr. Lerner's attorney was named trustee. The…
1Opinion of the Court
Hobart A. Lerner, M.D., P.C., Petitioner v. Commissioner of Internal Revenue, Respondent; Hobart A. Lerner and Elinor O. Lerner, Petitioners v. Commissioner of Internal Revenue, Respondent
Lerner v. Commissioner
Docket Nos. 4267-76, 4268-76
United States Tax Court
71 T.C. 290; 1978 U.S. Tax Ct. LEXIS 21;
November 27, 1978, Filed
Decisions will be entered under Rule 155.
Petitioner Hobart A. Lerner, an ophthalmologist, incorporated his practice into Hobart A. Lerner, M.D., P.C. He paid cash for all the issued stock of the corporation. At the same time, he created a trust for the benefit of his…
2Cases cited11 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Johnson v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1936
- I. L. Van Zandt and Ruth B. Van Zandt v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1965
- C. James Mathews v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1975
- Mathews v. CommissionerUnited States Tax Court · 1973
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