Cushman v. Commissioner
United States Tax Court
Petitioner as grantor executed a trust agreement, with himself and wife as trustees, with broad powers of administrative control as trustees, and with broad reserved control in the grantor over sales of trust corpus and investment of trust funds. The trust corpus consisted solely of shares in a corporation in which petitioner was largely interested as shareholder and an official.
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Petitioner as grantor executed a trust agreement, with himself and wife as trustees, with broad powers of administrative control as trustees, and with broad reserved control in the grantor over sales of trust corpus and investment of trust funds. The trust corpus consisted solely of shares in a corporation in which petitioner was largely interested as shareholder and an official. Held, that the income of the trust is to be included in the income of the petitioner-grantor, under section 22 (a) of the Revenue Act of 1938 and Helvering v. Clifford, 309 U.S. 331.
1Opinion of the Court
Lewis A. Cushman, Jr., Petitioner, v. Commissioner of Internal Revenue, Respondent
Cushman v. Commissioner
Docket No. 110284
United States Tax Court
4 T.C. 512; 1944 U.S. Tax Ct. LEXIS 2;
December 27, 1944, Promulgated
Decision will be entered under Rule 50.
Petitioner as grantor executed a trust agreement, with himself and wife as trustees, with broad powers of administrative control as trustees, and with broad reserved control in the grantor over sales of trust corpus and investment of trust funds. The trust corpus consisted solely of shares in a corporation in which petitioner was largely…
Also in this document: Dissent.
2Cases cited12 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Irwin v. GavitSupreme Court of the United States · 1925
- Carrier v. . CarrierNew York Court of Appeals · 1919
- Cartinhour v. CommissionerUnited States Tax Court · 1944
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