Newman v. Commissioner
United States Tax Court
1. Held, neither the oral trust nor the written trust here involved was "expressly made irrevocable by the instrument creating the trust * * *" as provided in section 2280, Civil Code of California. 2. Held, transfer of trust assets on May 2, 1946, to guardianship estate of minor beneficiary constituted a taxable gift.
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1. Held, neither the oral trust nor the written trust here involved was "expressly made irrevocable by the instrument creating the trust * * *" as provided in section 2280, Civil Code of California. 2. Held, transfer of trust assets on May 2, 1946, to guardianship estate of minor beneficiary constituted a taxable gift. Harris v. Commissioner, 340 U.S. 106, distinguished. 3. The value of the gift consummated May 2, 1946, held, not to include a certain item in the amount of $ 64,035.05, the existence of which is the subject matter of a separate income tax proceeding by the same taxpayer in…
1Opinion of the Court
Lois J. Newman (Formerly Lois J. Senderman), Petitioner, v. Commissioner of Internal Revenue, Respondent
Newman v. Commissioner
Docket No. 29650
United States Tax Court
19 T.C. 708; 1953 U.S. Tax Ct. LEXIS 255;
January 22, 1953, Promulgated
Decision will be entered under Rule 50.
1. Held, neither the oral trust nor the written trust here involved was "expressly made irrevocable by the instrument creating the trust * * *" as provided in section 2280, Civil Code of California.
2. Held, transfer of trust assets on May 2, 1946, to guardianship estate of minor beneficiary constituted a taxable gift.…
2Cases cited10 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Harris v. CommissionerSupreme Court of the United States · 1950
- Saulsbury v. United StatesCourt of Appeals for the Fifth Circuit · 1952
- Gaylord v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1946
- Gaylord v. CommissionerUnited States Tax Court · 1944
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