Anderson v. Commissioner
United States Board of Tax Appeals
1. The income of a trust created by a father for his adult child, not revocable as to income but revocable as to principal in a future year, held not within his gross income. 2. The income of a decedent's estate during administration held not within the gross income of the person who was both administrator and sole successor of the personalty, in absence of undue or capricious delay in settlement and distribution of the estate.
1Opinion of the Court
*1276OPINION.
Sternhagen :
1. In Franklin Miller Handly, 30 B.T.A. 1271, just decided, it was held that the settlor of a trust essentially similar to this petitioner’s trust was not required to treat the trust income as his own. In this case, since the beneficiary child ivas an adult, there is no guardianship relation and no question as to the father’s *1277freedom from duty to educate. The respondent’s determination as to trust income is reversed.
2. The respondent has included in petitioners’ income for 1929 the income of the estate of which he was administrator and sole successor to the personalty.…
2Cases cited1 opinion
- Handly v. CommissionerUnited States Board of Tax Appeals · 1934
3Cited by1 opinion
- Anderson v. CommissionerUnited States Board of Tax Appeals · 1934