O'Brien v. Commissioner
United States Board of Tax Appeals
TRUST INCOME - PROFITS FROM SALE OF STOCK RIGHTS TAXABLE TO FIDUCIARY AND NOT TO BENEFICIARIES. - Decedent in his will created a trust for the benefit of certain beneficiaries who were to receive the "income, interest and dividends" from the trust corpus semiannually. The trust corpus was to be held, invested, and reinvested until January 1, 1930, when it was to be turned over to the remaindermen, who were the same persons as those entitled to receive the income.
Read the full summary
TRUST INCOME - PROFITS FROM SALE OF STOCK RIGHTS TAXABLE TO FIDUCIARY AND NOT TO BENEFICIARIES. - Decedent in his will created a trust for the benefit of certain beneficiaries who were to receive the "income, interest and dividends" from the trust corpus semiannually. The trust corpus was to be held, invested, and reinvested until January 1, 1930, when it was to be turned over to the remaindermen, who were the same persons as those entitled to receive the income. Among the assets conveyed to the trust were certain shares of stock in a national bank on which certain stock rights were…
1Opinion of the Court
ESTATE OF RICHARD O'BRIEN, MARY A. O'BRIEN, COEXECUTRIX, HELEN O'BRIEN, COEXECUTRIX, RICHARD O'BRIEN, COEXECUTOR, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
O'Brien v. Commissioner
Docket No. 61620.
United States Board of Tax Appeals
31 B.T.A. 149; 1934 BTA LEXIS 1144;
September 14, 1934, Promulgated
TRUST INCOME - PROFITS FROM SALE OF STOCK RIGHTS TAXABLE TO FIDUCIARY AND NOT TO BENEFICIARIES. - Decedent in his will created a trust for the benefit of certain beneficiaries who were to receive the "income, interest and dividends" from the trust corpus semiannually. The trust corpus…
2Cases cited2 opinions
- Chambers v. CommissionerUnited States Board of Tax Appeals · 1934
- O'Brien v. CommissionerUnited States Board of Tax Appeals · 1934