Pingree v. Commissioner
United States Board of Tax Appeals
INCOME - TRUST - TAXABLE TO GRANTOR. - Where the petitioner placed property in trust, to be divided equally and the income from one-half to be paid to her mother for life, but retained the power to appoint by will the remainder after the life estate and the right to withdraw up to a certain amount with the consent of the mother, the income from the one-half set up for the benefit of the mother is not taxable to the petitioner.
Read the full summary
INCOME - TRUST - TAXABLE TO GRANTOR. - Where the petitioner placed property in trust, to be divided equally and the income from one-half to be paid to her mother for life, but retained the power to appoint by will the remainder after the life estate and the right to withdraw up to a certain amount with the consent of the mother, the income from the one-half set up for the benefit of the mother is not taxable to the petitioner. Sections 166, 167, and 22(a) of the Revenue Act of 1936 have no application.
1Opinion of the Court
*33OPINION.
Murdock :
The principal issue is whether that portion of the trust income from one-half of the corpus payable to the mother during her life is taxable to the petitioner. The petitioner has reported the income from the other one-half of the corpus which was payable to her. *34When the death of the mother terminates her life estate, the petitioner, if living, will receive and be taxable with the income from the entire corpus. The contention of the petitioner on this point is merely that the income payable to her mother during 1936 and 1937 is not taxable to the petitioner. The situation is…
2Cases cited5 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. HorstSupreme Court of the United States · 1940
- Harrison v. SchaffnerSupreme Court of the United States · 1941
- Helvering v. WoodSupreme Court of the United States · 1940
- HELVERING, COMMR. OF INTERNAL REVENUE v. McILVAINE TR.Supreme Court of the United States · 1936
3Cited by6 opinions
- Canfield v. CommissionerUnited States Tax Court · 1960
- Canfield v. CommissionerUnited States Tax Court · 1960
- Funk v. CommissionerUnited States Tax Court · 1944
- Pingree v. CommissionerUnited States Board of Tax Appeals · 1941
- Scheuer v. CommissionerUnited States Tax Court · 1943
1 more not listed; retrieve them via the Exa API.