Jones v. Commissioner
United States Tax Court
Executors of an estate had discretion to determine what amount in each year during administration of estate properly could be paid or credited to petitioner. In 1936 they paid her $ 11,000 and did not credit her with any greater amount. In 1937 they paid her $ 49,000, of which, according to the estate's accounts, $ 16,250.84 was out of 1936 accumulated income.
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Executors of an estate had discretion to determine what amount in each year during administration of estate properly could be paid or credited to petitioner. In 1936 they paid her $ 11,000 and did not credit her with any greater amount. In 1937 they paid her $ 49,000, of which, according to the estate's accounts, $ 16,250.84 was out of 1936 accumulated income. No evidence was introduced to show that the balance, $ 32,749.16, was not properly paid to petitioner out of the 1937 income of the estate. None of that amount was shown to have been paid out of 1936 income. Held, that $ 32,749.16 was…
1Opinion of the Court
OPINION.
HaRron, Judge:
The question arises under section 162 (a) of the Revenue Act of 1936,1 which is set forth below. The statute provides that “there shall be allowed” the amount of the income of the estate for its taxable year “which is properly paid or credited during such year to any legatee, heir, or beneficiary” as a deduction in computing the net income of the estate. It provides, also, that the amount so allowed as a deduction shall be included in computing the net income of the heir or legatee. The purpose of the enactment of the original provision in the Revenue Act of 1924…
2Cited by3 opinions
- Aaron v. CommissionerUnited States Tax Court · 1954
- Aaron v. CommissionerUnited States Tax Court · 1954
- Jones v. CommissionerUnited States Tax Court · 1943