Jones v. Commissioner
United States Tax Court
1. Taxpayer in 1935 set up a trust with broad powers of management and control in himself as trustee. Such part of the income and principal as the trustee might in his discretion deem necessary or proper for her comfort, support, or happiness was payable to grantor's wife, and after her death to their 2 children until they reached the age of 45 years. All income from 1935 to 1939, inclusive, less trust expenses, was accumulated and added to principal.
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1. Taxpayer in 1935 set up a trust with broad powers of management and control in himself as trustee. Such part of the income and principal as the trustee might in his discretion deem necessary or proper for her comfort, support, or happiness was payable to grantor's wife, and after her death to their 2 children until they reached the age of 45 years. All income from 1935 to 1939, inclusive, less trust expenses, was accumulated and added to principal. Held, the trust income is includible in taxpayer's gross income for 1937, 1938, and 1939. 2. A trust was set up by a Mexican corporation, a…
1Opinion of the Court
OPINION.
Disnet, Judge:(1) The Commissioner determined that the income of the trust created by petitioner on August 21, 1935, for the years 1937, 1938, and 1939, was taxable to him under the provisions of section 22 (a) of the Internal Revenue Code and the corresponding provisions of the Eevenue Acts of 1936 and 1938, and respondent relies on that section, as construed in Helvering v. Clifford, 309 U. S. 331, and related cases, such as Richardson v. Commissioner (C. C. A., 2d Cir.), 121 Fed. (2d) 1; certiorari denied, 314 U. S. 684; rehearing denied, 314 U. S. 711; Commissioner v. Barbour (C.…
2Cases cited7 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Lowenstein v. CommissionerUnited States Tax Court · 1944
- Morgan v. CommissionerUnited States Tax Court · 1945
- Cherry v. CommissionerUnited States Tax Court · 1944
- Black v. CommissionerUnited States Tax Court · 1945
2 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Perkins v. CommissionerUnited States Tax Court · 1963
- Alexander v. CommissionerUnited States Tax Court · 1946
- Solomon v. CommissionerUnited States Tax Court · 1956
- Alexander v. CommissionerUnited States Tax Court · 1946
- Alexander v. CommissionerUnited States Tax Court · 1946
5 more not listed; retrieve them via the Exa API.