Chisolm v. United States

WFIALEY, Judge.

This case involves the question of the right of the plaintiff to deductions for depreciation sustained on the improved real property held by trustees under a trust in which plaintiff is the life beneficiary. The facts of the case have been stipulated and both parties request that they be reported as agreed upon. There is no issue as to the income tax paid, the dates of payment, the sufficiency of the claims for refund, and the rejection of the same by the Commissioner. It is agreed that neither the trustees nor the beneficiary received any deductions for depreciation. The…