Delp v. Commissioner
United States Tax Court
Pursuant to agreements entered into by the petitioner and certain of his brothers and sisters with their brother Charles, involving the income from property left by their mother, Charles became entitled to receive annually 4/24 of the net income from the property for life and the balance was to be equally divided among the other children.
Read the full summary
Pursuant to agreements entered into by the petitioner and certain of his brothers and sisters with their brother Charles, involving the income from property left by their mother, Charles became entitled to receive annually 4/24 of the net income from the property for life and the balance was to be equally divided among the other children. For 1941 petitioner was entitled to receive 5/24 of the net income and another brother and two sisters each a like fraction and Charles 4/24. Each received his pro rata share of the net income from the property for 1941 and reported the same as taxable…
1Opinion of the Court
Frank S. Delp, Petitioner, v. Commissioner of Internal Revenue, Respondent
Delp v. Commissioner
Docket No. 5719
United States Tax Court
5 T.C. 1351; 1945 U.S. Tax Ct. LEXIS 2;
December 29, 1945, Promulgated
Decision will be entered under Rule 50.
Pursuant to agreements entered into by the petitioner and certain of his brothers and sisters with their brother Charles, involving the income from property left by their mother, Charles became entitled to receive annually 4/24 of the net income from the property for life and the balance was to be equally divided among the other children. For 1941…
2Cases cited1 opinion
- Delp v. CommissionerUnited States Tax Court · 1945