Auld v. Commissioner
United States Board of Tax Appeals
In the taxable years the petitioner was the trustee and residuary legatee of an estate burdened by the will of the testator with the payment of certain annuities to other legatees under the will. Held, that the income of the residuary estate paid as annuities was not taxable to the petitioner.
1Opinion of the Court
*1217OPINION.
Lansdon :
The only question here is whether the amount of $6,000 paid by the petitioner as annuities under the terms of the will under which he was executor and trustee was taxable income to him in each of the taxable years. The respondent contends that, as the will makes no specific provision for the payment of the annuities from the income of the estate, such payments may not be deducted from the gross income of the petitioner and, presumably, must be regarded as gifts by him to the annuitants named in the will.
When payments are to be made from time to time out of the assets of an…
2Cases cited11 opinions
- Irwin v. GavitSupreme Court of the United States · 1925
- Cummings v. CummingsMassachusetts Supreme Judicial Court · 1888
- Andersen v. AndersenNebraska Supreme Court · 1903
- Klug v. SeegabarthNebraska Supreme Court · 1915
- Hammond v. HammondMassachusetts Supreme Judicial Court · 1897
6 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Auld v. CommissionerUnited States Board of Tax Appeals · 1928