Tyler Trust Commissioner
United States Tax Court
The petitioners as trustees of a testamentary trust paid the entire net income of the trust for 1941 to charitable and educational institutions. The amount so paid was in excess of the net income of the trust for the taxable year.
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The petitioners as trustees of a testamentary trust paid the entire net income of the trust for 1941 to charitable and educational institutions. The amount so paid was in excess of the net income of the trust for the taxable year. Included in the gross income was a capital gain in the amount of $ 860.25. Under the terms of the trust instrument as construed by the Court of Appeals of Cuyahoga County, Ohio, the entire net income was payable to such institutions and remainders over were also to go to the same institutions upon the termination of the trust. Held, that petitioners had no net…
1Opinion of the Court
OPINION.
Smith, Judge-.
This proceeding is for the redetermination of a deficiency in income tax for the calendar year 1941 of $76.03. The petition alleges that the Commissioner erred in his determination of the deficiency by failing “to allow as a deduction from the gross income of the estate the sum of $160,848.64 actually paid in cash pursuant to the terms of Decedent’s will to a charitable and an educational institution, and has allowed instead only $111,684.67 out of the total payments to such institutions as deductions in computing the net income of the trust.”
The facts are found as…
2Cases cited2 opinions
- Old Colony Trust Co. v. CommissionerSupreme Court of the United States · 1937
- Rogers v. CommissionerUnited States Tax Court · 1943
3Cited by3 opinions
- Andrus Trust v. CommissionerUnited States Tax Court · 1946
- Andrus Trust v. CommissionerUnited States Tax Court · 1946
- Tyler Trust CommissionerUnited States Tax Court · 1945