Bush v. Commissioner
United States Tax Court
In 1923 petitioner's then husband created an irrevocable trust for her benefit and for the benefit of his two daughters by a prior marriage. In 1930 petitioner and her husband became involved in divorce proceedings, and she wished to have a separate trust created for her benefit, with a different trustee not so closely associated with her husband.
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In 1923 petitioner's then husband created an irrevocable trust for her benefit and for the benefit of his two daughters by a prior marriage. In 1930 petitioner and her husband became involved in divorce proceedings, and she wished to have a separate trust created for her benefit, with a different trustee not so closely associated with her husband. Pursuant to agreement between the parties, a selection was made from the securities of the 1923 trust to constitute the corpus of a new trust set up for her benefit. The husband guaranteed that if the income should fall below $ 60,000 in any year,…
1Opinion of the Court
OPINION.
Aeundell, Judge:
This case involves income tax deficiencies for the years 1938,1939, and 1940 in the respective amounts of $13,913.53, $17,567.83, and $24,030.55, a total of $55,511.91. The deficiencies result in the main from respondent’s action in taxing to petitioner, as income, amounts, roughly speaking, of about $60,000 paid to her in each of the years by a trust established by her then husband on June 6, 1930. Petitioner here assails that action and pleads res judicata, based on an earlier decision of the Board of Tax Appeals, Maud H. Bush, 33 B. T. A. 628.
The facts have been…
2Cases cited5 opinions
- Commissioner v. SunnenSupreme Court of the United States · 1948
- Cromwell v. County of SacSupreme Court of the United States · 1877
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Helvering v. LeonardSupreme Court of the United States · 1940
3Cited by10 opinions
- Calcutt v. CommissionerUnited States Tax Court · 1988
- Bush v. CommissionerCourt of Appeals for the Second Circuit · 1949
- Journal-Tribune Publishing Co. v. CommissionerUnited States Tax Court · 1962
- Glenshaw Glass Co. v. CommissionerUnited States Tax Court · 1949
- Consolidated Edison Co. of New York, Inc. v. United StatesDistrict Court, S.D. New York · 1958
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