Rassas v. Commissioner
United States Tax Court
Petitioner on December 29, 1947, made a gift in trust to her infant daughter who at that time was 19 days old. The trustees were petitioner and her husband. The trust contained the following provision: "The Trustees shall pay the income of the Trust Estate unto Denice Rassas in quarterly installments.
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Petitioner on December 29, 1947, made a gift in trust to her infant daughter who at that time was 19 days old. The trustees were petitioner and her husband. The trust contained the following provision: "The Trustees shall pay the income of the Trust Estate unto Denice Rassas in quarterly installments. Payment of such income to said minor shall be made by the Trustees paying and applying, in their sole discretion, so much of the income as may by them be deemed necessary for the maintenance, education and support of the said Denice Rassas during her minority, and any income not so paid and…
1Opinion of the Court
OPINION.
Black, Judge:
In the determination of a deficiency in petitioner’s gift tax for the year 1947, the Commissioner has held that the gift which petitioner made to her infant daughter on December 29,1947, was a gift of future interest in property and that no exclusion was allowable under the statute.
There is no dispute that the value of the donated property was $4,400 at the time'of gift and there is no contention by the Commissioner that if petitioner is entitled to any exclusion at all that $2,750 is the correct amount. The Commissioner does contend, however, that the entire gift was one…
2Cases cited8 opinions
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Kieckhefer v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1951
- Commissioner of Internal Revenue v. BrandegeeCourt of Appeals for the First Circuit · 1941
- Commissioner of Internal Revenue v. SharpCourt of Appeals for the Ninth Circuit · 1946
- Kieckhefer v. CommissionerUnited States Tax Court · 1950
3 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Thorrez v. CommissionerUnited States Tax Court · 1958
- La Fortune v. CommissionerUnited States Tax Court · 1957
- Hackl v. Comm'rUnited States Tax Court · 2002
- Schayek v. CommissionerUnited States Tax Court · 1960
- Christine M. Hackl v. CommissionerUnited States Tax Court · 2002
7 more not listed; retrieve them via the Exa API.