Eustis v. Commissioner
United States Board of Tax Appeals
Under the terms of a will creating a trust the income of the trust was to be paid semiannually on June 15 and December 15 to the beneficiaries living on such dates and could not be assigned or anticipated. In event of the death of a beneficiary between such dates the share that he would have received if he had remained alive would go to the other beneficiaries.
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Under the terms of a will creating a trust the income of the trust was to be paid semiannually on June 15 and December 15 to the beneficiaries living on such dates and could not be assigned or anticipated. In event of the death of a beneficiary between such dates the share that he would have received if he had remained alive would go to the other beneficiaries. Held, that the income of the trust for the period December 15 to December 31 constituted income accumulated in trust for the benefit of unascertained persons or persons with contingent interests within the meaning of the provisions of…
1Opinion of the Court
OPINION.
Tkammell :
This proceeding is for the redetermination of a deficiency in income tax for the calendar year 1930 in the amount of $398.56. The only error assigned is the action of the respondent in including in taxable income for the year certain income of a trust from December 15 to December 31, 1930. The facts were stipulated and we set forth herein only those we deem to be material for a decision of the case.
The petitioner is the grandson of Augustus Hemenway, who died on June 16, 1876, a resident of Massachusetts. Since the death of his mother, Edith Hemenway Eustis, in 1904, the…
2Cases cited4 opinions
- Schick v. CommissionerUnited States Board of Tax Appeals · 1931
- Hemenway v. HemenwayMassachusetts Supreme Judicial Court · 1898
- Owens v. CommissionerUnited States Board of Tax Appeals · 1932
- Flynn v. CommissionerUnited States Board of Tax Appeals · 1931
3Cited by6 opinions
- Graham v. MillerCourt of Appeals for the Third Circuit · 1943
- Hallowell v. CommissionerCourt of Appeals for the Third Circuit · 1947
- Bodell v. CommissionerUnited States Tax Court · 1943
- Dean v. CommissionerUnited States Board of Tax Appeals · 1937
- Eustis v. CommissionerUnited States Board of Tax Appeals · 1934
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