Donner v. Commissioner
United States Board of Tax Appeals
The taxpayer created a trust in 1929 and directed that its income be paid, exclusively, to such charitable organizations as he and an advisory committee, appointed by him in the trust instrument, might select. The income, so far as not urgently needed for charitable purposes, was to be accumulated until the time should arrive for its use for the purposes for which the trusts was created.
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The taxpayer created a trust in 1929 and directed that its income be paid, exclusively, to such charitable organizations as he and an advisory committee, appointed by him in the trust instrument, might select. The income, so far as not urgently needed for charitable purposes, was to be accumulated until the time should arrive for its use for the purposes for which the trusts was created. No powers of revocation were reserved by the grantor and the trust was to continue after his death. Held, no part of the trust income is taxable to the grantor, for the following reasons: (1) A charitable…
1Opinion of the Court
WILLIAM H. DONNER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Donner v. Commissioner
Docket No. 93602.
United States Board of Tax Appeals
40 B.T.A. 80; 1939 BTA LEXIS 900;
June 13, 1939, Promulgated
The taxpayer created a trust in 1929 and directed that its income be paid, exclusively, to such charitable organizations as he and an advisory committee, appointed by him in the trust instrument, might select. The income, so far as not urgently needed for charitable purposes, was to be accumulated until the time should arrive for its use for the purposes for which the trusts was…
2Cases cited1 opinion
- Donner v. CommissionerUnited States Board of Tax Appeals · 1939