Anderson v. Commissioner
United States Tax Court
Petitioner, in 1919, created a trust, with a corporate trustee. The trust instrument provided that $ 800 a month be paid by the trustee out of net income to the wife of petitioner, and that any net income in excess of that amount be paid to petitioner. Upon the death of either petitioner or his wife, the net income and corpus became payable to the survivor.
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Petitioner, in 1919, created a trust, with a corporate trustee. The trust instrument provided that $ 800 a month be paid by the trustee out of net income to the wife of petitioner, and that any net income in excess of that amount be paid to petitioner. Upon the death of either petitioner or his wife, the net income and corpus became payable to the survivor. Petitioner retained power during his lifetime to terminate trust and have corpus and accumulated income distributed to his wife, and to direct trustee to sell or exchange any part of corpus and substitute other property. Taxpayer's wife…
1Opinion of the Court
William P. Anderson, Petitioner, v. Commissioner of Internal Revenue, Respondent
Anderson v. Commissioner
Docket No. 8929
United States Tax Court
8 T.C. 921; 1947 U.S. Tax Ct. LEXIS 213;
April 30, 1947, Promulgated
Decision will be entered for the petitioner.
Petitioner, in 1919, created a trust, with a corporate trustee. The trust instrument provided that $ 800 a month be paid by the trustee out of net income to the wife of petitioner, and that any net income in excess of that amount be paid to petitioner. Upon the death of either petitioner or his wife, the net income and corpus became payable to…
2Cases cited9 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Carrier v. . CarrierNew York Court of Appeals · 1919
- Van Cott v. . PrenticeNew York Court of Appeals · 1887
- DuPont v. CommissionerSupreme Court of the United States · 1933
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