Braun v. Commissioner
United States Board of Tax Appeals
1. During the taxable years 1927 and 1928 the taxpayer, a trust estate, paid to the trustees the sum of $75,000 as compensation for personal services in managing two newspaper publishing companies owned by the estate, and also in 1927 paid to the life tenant $150,000 as additional income distributable under decedent's will or in settlement of the life tenant's claim against the estate for additional inncome.
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1. During the taxable years 1927 and 1928 the taxpayer, a trust estate, paid to the trustees the sum of $75,000 as compensation for personal services in managing two newspaper publishing companies owned by the estate, and also in 1927 paid to the life tenant $150,000 as additional income distributable under decedent's will or in settlement of the life tenant's claim against the estate for additional inncome. By the terms of the decedent's will, which created the estate, all the ordinary net income was distributable currently to the life tenant, who paid the tax thereon, and only the capital…
1Opinion of the Court
ARTHUR E. BRAUN, SURVIVING TRUSTEE UNDER THE LAST WILL AND TESTAMENT OF T. H. GIVEN, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Braun v. Commissioner
Docket No. 54556.
United States Board of Tax Appeals
29 B.T.A. 1161; 1934 BTA LEXIS 1409;
February 23, 1934, Promulgated
1. During the taxable years 1927 and 1928 the taxpayer, a trust estate, paid to the trustees the sum of $75,000 as compensation for personal services in managing two newspaper publishing companies owned by the estate, and also in 1927 paid to the life tenant $150,000 as additional income distributable…
2Cases cited2 opinions
- Watson v. CommissionerUnited States Board of Tax Appeals · 1932
- Braun v. CommissionerUnited States Board of Tax Appeals · 1934