Hill v. Commissioner
United States Board of Tax Appeals
1. Under the terms of a trust created by the petitioner five sixths of the expenses of maintaining the family home and of supporting his wife were payable from the income of the trust. Held, that the trust income used for the purposes stated is taxable to the petitioner. 2. Capital net losses should be deducted in determining net income which forms the basis for the computation of the allowable deduction for charitable contributions.
1Opinion of the Court
LOUIS W. HILL, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hill v. Commissioner
Docket No. 73971.
United States Board of Tax Appeals
33 B.T.A. 891; 1936 BTA LEXIS 809;
January 9, 1936, Promulgated
1. Under the terms of a trust created by the petitioner five sixths of the expenses of maintaining the family home and of supporting his wife were payable from the income of the trust. Held, that the trust income used for the purposes stated is taxable to the petitioner.
2. Capital net losses should be deducted in determining net income which forms the basis for the computation of the…
2Cases cited1 opinion
- Hill v. CommissionerUnited States Board of Tax Appeals · 1936