Armstrong v. Commissioner
United States Tax Court
A will probated in 1923, under the law of Georgia, provided that the testator's wife receive a certain amount of income annually during her life from the income of the estate, or, if necessary, from the corpus, the estate to be divided between certain devisees.
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A will probated in 1923, under the law of Georgia, provided that the testator's wife receive a certain amount of income annually during her life from the income of the estate, or, if necessary, from the corpus, the estate to be divided between certain devisees. The estate was reduced to possession and all debts paid within a year, but the estate had not been closed by the end of the taxable year, 1940. Held, that, under section 163 (a) (1) of the Internal Revenue Code, during the taxable year the executors were in the position of trustees and that the petitioner is a trust and not an estate;…
1Opinion of the Court
OPINION.
Disney, Judge:
This case involves income tax in the amount of $30,80 for the calendar year 1940. All facts were stipulated, and we find the facts to be as so stipulated. The only question involved is whether the petitioner shall be considered an estate or a trust, for the purpose of determining the amount of credit against net income under section 163 (a) (1) of the Internal Revenue Code.1 The petitioner contends that it is an estate and is entitled to a credit of $800 against net income, .while the respondent contends the petitioner is a trust and is entitled to a credit of only $100…
2Cases cited4 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Thomas v. OwensSupreme Court of Georgia · 1908
- Bell v. WatkinsSupreme Court of Georgia · 1898
- Hunt v. GowerSupreme Court of South Carolina · 1908
3Cited by24 opinions
- Brown v. United StatesCourt of Appeals for the Fifth Circuit · 1989
- Chick v. CommissionerUnited States Tax Court · 1946
- Farrier v. CommissionerUnited States Tax Court · 1950
- Pierce Estates, Inc. v. CommissionerUnited States Tax Court · 1944
- Caratan v. CommissionerUnited States Tax Court · 1950
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