Rauers v. Commissioner
United States Board of Tax Appeals
CONSTRUCTION OF A WILL - ONE TRUST CREATED BY THE WILL INSTEAD OF THREE AS CONTENDED BY THE PETITIONER. - Where the testator devised and bequeathed his estate in trust for the benefit of his wife and children and directed the trustees to hold such estate undivided until the death of the widow and the youngest son should attain the age of 30 years, whereupon his estate should be equally divided among his children then in life, upon the express condition nevertheless that the…
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CONSTRUCTION OF A WILL - ONE TRUST CREATED BY THE WILL INSTEAD OF THREE AS CONTENDED BY THE PETITIONER. - Where the testator devised and bequeathed his estate in trust for the benefit of his wife and children and directed the trustees to hold such estate undivided until the death of the widow and the youngest son should attain the age of 30 years, whereupon his estate should be equally divided among his children then in life, upon the express condition nevertheless that the share coming to a daughter should be held by his executors in trust for the said daughter during her lifetime held, that…
1Opinion of the Court
OPINION.
Black :
This proceeding is for the redetermination of a deficiency in income tax for the calendar year 1929 proposed against petitioners as trustees under the will of Jacob Rauers. Petitioners admit a deficiency of $593.13, but contest the remainder.
*517Tbe only issue is whether in his will Jacob Eauers created one trust for the benefit of his three daughters, or a separate trust for each.
Section 161 of the Revenue Act of 1928 provides that the taxes imposed upon individuals shall apply to the income of any kind of property held in trust, and that the tax shall be computed upon the net…
2Cases cited2 opinions
- Sparrow v. CommissionerUnited States Board of Tax Appeals · 1929
- Lynchburg Trust & Sav. Bank v. CommissionerUnited States Board of Tax Appeals · 1933
3Cited by5 opinions
- Canal Bank & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- McGinley v. CommissionerUnited States Board of Tax Appeals · 1934
- Booth Trust v. CommissionerUnited States Tax Court · 1963
- Marx v. CommissionerUnited States Board of Tax Appeals · 1939
- Rauers v. CommissionerUnited States Board of Tax Appeals · 1933