Cohen v. Commissioner
United States Tax Court
Under the facts, held, that income from decedent's estate was taxable to the estate because such income did not become payable to the legatees under section 162 (b), Internal Revenue Code, nor was the income properly paid or credited to the legatees under section 162 (c) during the taxable year; held, further, that income received by the estate during administration from real estate subject to administration is taxable to the estate, notwithstanding that title to the real…
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Under the facts, held, that income from decedent's estate was taxable to the estate because such income did not become payable to the legatees under section 162 (b), Internal Revenue Code, nor was the income properly paid or credited to the legatees under section 162 (c) during the taxable year; held, further, that income received by the estate during administration from real estate subject to administration is taxable to the estate, notwithstanding that title to the real estate under local law was vested in the devisees.
1Opinion of the Court
OPINION.
Hill, Judge:
Whether the income involved is taxable to the estate or to the individual legatees and devisees depends in part on the applicability of section 162 (b) and (c). Subsection (b) provides in effect that income from the estate “which is to be distributed currently” to the legatees, whether distributed or not, shall be taxable to such legatees and not to the estate. Subsection (b) defines income which is to be currently distributable as including income which “becomes payable to the legatee” within the taxable year. Regulations 111, section 29.162-2 (b), interprets the term…
2Cases cited3 opinions
- Igoe v. CommissionerUnited States Tax Court · 1946
- Coann v. . CulverNew York Court of Appeals · 1907
- In Re the Accounting of ClearyNew York Court of Appeals · 1929
3Cited by22 opinions
- Caratan v. CommissionerUnited States Tax Court · 1950
- Zellerbach v. CommissionerUnited States Tax Court · 1947
- Hill v. CommissionerUnited States Tax Court · 1955
- Jones v. WhittingtonCourt of Appeals for the Tenth Circuit · 1952
- Petersen v. CommissionerUnited States Tax Court · 1961
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