Balzereit v. Commissioner
United States Board of Tax Appeals
1. Petitioners are the guardians of the estate of a mentally incompetent person who is the life beneficiary of a testamentary trust set up for his benefit by his deceased father. In the taxable year petitioners as guardians received checks in payment of income from the estate of the decedent, which were deposited to the credit of the account of the trustees of the testamentary trust and not to the account of petitioners as guardians.
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1. Petitioners are the guardians of the estate of a mentally incompetent person who is the life beneficiary of a testamentary trust set up for his benefit by his deceased father. In the taxable year petitioners as guardians received checks in payment of income from the estate of the decedent, which were deposited to the credit of the account of the trustees of the testamentary trust and not to the account of petitioners as guardians. No explanation is given as to why the deposit was made in this manner. Held, petitioners actually received the dividends in question as guardians of the estate…
1Opinion of the Court
LEO A. BALZEREIT AND ROSA IDA SCHWEIKER, GUARDIANS OF THE ESTATE OF GEORGE H. BALZEREIT, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Balzereit v. Commissioner
Docket No. 82386.
United States Board of Tax Appeals
38 B.T.A. 345; 1938 BTA LEXIS 879;
August 16, 1938, Promulgated
1. Petitioners are the guardians of the estate of a mentally incompetent person who is the life beneficiary of a testamentary trust set up for his benefit by his deceased father. In the taxable year petitioners as guardians received checks in payment of income from the estate of the decedent, which were…
2Cases cited1 opinion
- Balzereit v. CommissionerUnited States Board of Tax Appeals · 1938