Marx v. Commissioner
United States Board of Tax Appeals
1. Where a decedent conveyed his residuary estate to trustees in trust, directing them to divide the principal thereof into three equal shares for his wife, daughter, and son and to set each share apart for the life of each beneficiary, and upon termination of the life estate to dispose of the principal thereof to certain remainders over, each interest running for a separate life; and where the trustees received property in trust but did not make a physical segregation of…
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1. Where a decedent conveyed his residuary estate to trustees in trust, directing them to divide the principal thereof into three equal shares for his wife, daughter, and son and to set each share apart for the life of each beneficiary, and upon termination of the life estate to dispose of the principal thereof to certain remainders over, each interest running for a separate life; and where the trustees received property in trust but did not make a physical segregation of the trust property; and where the testator directed without limitation or discretion in the trustees that the income of…
1Opinion of the Court
*544OPINION.
HaRRon:
Issue 1. — In the cases of Leonard, Emily, and Regina Marx, individual taxpayers and petitioners, part of the deficiency results from the action of the respondent in adding to their respective taxable incomes certain amounts, representing one-third of the trust income received by the trustees in the taxable year or years under the will of Joseph E. Marx, which amounts were not reported by said individuals in their separate, individual income tax returns because the amounts were not paid over to them by the trustees in the taxable year or years. Respondent determined that such…
2Cases cited12 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Freuler v. HelveringSupreme Court of the United States · 1934
- Vanderpoel v. . LoewNew York Court of Appeals · 1889
- US Trust Co. v. Commissioner of Internal RevenueSupreme Court of the United States · 1936
- In Re the Estate of ColegroveNew York Court of Appeals · 1917
7 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Marx v. CommissionerUnited States Board of Tax Appeals · 1939
- Meier v. CommissionerUnited States Tax Court · 1945
- William T. Belcher Trust No. 1 v. Commissioner.United States Tax Court · 1947