Igoe v. Commissioner
United States Tax Court
Petitioners, executors of the estate of Andrew J. Igoe, deceased, credited current income on the books of the estate to beneficiaries who were residuary legatees under the decedent's will. The several distributions of income were so credited under circumstances which rendered them constantly available to the beneficiaries on demand. Substantial amounts in cash were withdrawn from the accounts.
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Petitioners, executors of the estate of Andrew J. Igoe, deceased, credited current income on the books of the estate to beneficiaries who were residuary legatees under the decedent's will. The several distributions of income were so credited under circumstances which rendered them constantly available to the beneficiaries on demand. Substantial amounts in cash were withdrawn from the accounts. The method of so treating the distributions was approved by decree of the surrogate settling petitioners' accounts as executors. The beneficiaries reported such distributions on their income tax…
1Opinion of the Court
Estate of Andrew J. Igoe, Peter Igoe and James J. Igoe, Executors, Petitioners, v. Commissioner of Internal Revenue, Respondent
Igoe v. Commissioner
Docket No. 6580
United States Tax Court
6 T.C. 639; 1946 U.S. Tax Ct. LEXIS 244;
April 3, 1946, Promulgated
Decision will be entered under Rule 50.
Petitioners, executors of the estate of Andrew J. Igoe, deceased, credited current income on the books of the estate to beneficiaries who were residuary legatees under the decedent's will. The several distributions of income were so credited under circumstances which rendered them constantly available to the…
2Cases cited3 opinions
- Matter of Accounting of BensonNew York Court of Appeals · 1884
- Igoe v. CommissionerUnited States Tax Court · 1946
- In re the Estate of CochranNew York Surrogate's Court · 1941