Krause v. Commissioner
United States Tax Court
On Feb. 5, 1959, petitioners executed a partnership agreement wherein they formed a limited partnership known as A. K. Co. Contemporaneously, petitioners created six trusts; Adolph created three trusts naming their children as beneficiaries, and Janet created three trusts naming their grandchildren as beneficiaries. The children's trusts were funded with $ 100 and 50 shares of Wolverine, while the grandchildren's trusts were funded with $ 100 and 25 shares of Wolverine.
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On Feb. 5, 1959, petitioners executed a partnership agreement wherein they formed a limited partnership known as A. K. Co. Contemporaneously, petitioners created six trusts; Adolph created three trusts naming their children as beneficiaries, and Janet created three trusts naming their grandchildren as beneficiaries. The children's trusts were funded with $ 100 and 50 shares of Wolverine, while the grandchildren's trusts were funded with $ 100 and 25 shares of Wolverine. Simultaneous with the execution of the above-noted documents, Adolph executed a series of agreements wherein he agreed to…
1Opinion of the Court
Adolph K. Krause and Janet S. Krause, Petitioners v. Commissioner of Internal Revenue, Respondent
Krause v. Commissioner
Docket No. 6125-69
United States Tax Court
57 T.C. 890; 1972 U.S. Tax Ct. LEXIS 153;
March 30, 1972, Filed
Decision will be entered under Rule 50.
On Feb. 5, 1959, petitioners executed a partnership agreement wherein they formed a limited partnership known as A. K. Co. Contemporaneously, petitioners created six trusts; Adolph created three trusts naming their children as beneficiaries, and Janet created three trusts naming their grandchildren as beneficiaries. The children's…
2Cases cited24 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- Commissioner v. BrownSupreme Court of the United States · 1965
- National Licorice Co. v. National Labor Relations BoardSupreme Court of the United States · 1940
- Commissioner v. LesterSupreme Court of the United States · 1961
- Estate of Spiegel v. CommissionerSupreme Court of the United States · 1949
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