Hanover Bank v. Commissioner
United States Tax Court
Held, a valid trust was created by the settlors by an agreement dated October 19, 1914, and the amounts distributed to petitioner Frances M. Strong by the trustee pursuant to the trust in 1953, 1954, 1955, 1956, and 1958 are taxable income to petitioners Frances and Seymour Strong. The amounts distributed by the trustee in 1954, 1955, and 1956 are deductible under section 661, I.R.C. 1954.
1Opinion of the Court
The Hanover Bank, as Trustee Under Agreement Dated October 19, 1914, Made by Leona C. Howe, Deceased, et al., Petitioner, v. Commissioner of Internal Revenue, Respondent; Seymour W. Strong and Frances M. Strong, Petitioners, v. Commissioner of Internal Revenue, Respondent
Hanover Bank v. Commissioner
Docket Nos. 89166, 90208
United States Tax Court
40 T.C. 532; 1963 U.S. Tax Ct. LEXIS 100;
June 14, 1963, Filed
Decision will be entered for the petitioner in Docket No. 89166.
Decision will be entered under Rule 50 in Docket No. 90208.
Held, a valid trust was created by the settlors by an agreement…
2Cases cited4 opinions
- Lyeth v. HoeySupreme Court of the United States · 1938
- Chase Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1939
- Israel v. CommissionerUnited States Tax Court · 1948
- Hanover Bank v. CommissionerUnited States Tax Court · 1963