In re the Accounting of Kohlmann

Frankenthaler, S.

In the first intermediate accounting by the trustees of one of the residuary trusts, petitioners ask instructions in respect of the allocation of interest on estate taxes between income and principal of the trust and the transfer from principal to income of the amount by which income has overpaid its proper share. No objection is made to the allocation or to the adjustment necessary to effect that allocation. The income beneficiary supports petitioners’ allocation of the penalty interest on the taxes and the transfer of funds from principal to income. The sole question is…