Losh v. Commissioner
United States Tax Court
Income of part interest in family partnership held by petitioner in a trust created by him and his wife for the benefit of minor sons, over which he had large powers of control, including authority to use income for sons' support, held, taxable in part to petitioner and also in part to his wife in view of their community property status. Helvering v. Clifford, 309 U.S. 331; Helvering v. Stuart, 317 U.S. 154.
1Opinion of the Court
OPINION.
OfpeR, Judge:
Except for one feature, this case would be controlled by Murphy Shannon Armstrong, 1 T. C. 1008, decided herewith, and this proceeding could be disposed of accordingly on the authority of Helvering v. Clifford, 309 U. S. 331, and Helvering v. Stuart, 317 U. S. 154. Petitioner retained complete control over principal and income, both as trustee and as managing partner. The beneficiaries were members of his intimate family group. He was expressly permitted to “expend, use and lay out for the comfort, education, training, care, support, and welfare of each of his sons…
2Cases cited12 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Higgins v. SmithSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Douglas v. WillcutsSupreme Court of the United States · 1935
- Beals ex rel. Walker v. AresNew Mexico Supreme Court · 1919
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3Cited by5 opinions
- Apt v. BirminghamDistrict Court, N.D. Iowa · 1950
- Hanson v. BirminghamDistrict Court, N.D. Iowa · 1950
- Fry v. CommissionerUnited States Tax Court · 1945
- Fry v. CommissionerUnited States Tax Court · 1945
- Losh v. CommissionerUnited States Tax Court · 1943