Helvering v. Campbell

The questions presented by these cases are in part related to and in part the same as those involved in Maguire v. Commissioner, ante, p. 1, and Helvering v. Gambrill, ante, p. 11.

The father of these respondents died in 1915. By his will it was provided that his residuary estate should be divided, into four parts. One part was devised and bequeathed to trustees: “To receive, hold and, from time to time, invest and reinvest the same, and to collect the rents, income, issues, and profits on the property from time to time constituting such trust fund and to pay over so much of the net income…