Stein v. Commissioner
United States Board of Tax Appeals
INCOME - TRUSTS. - Petitioner created an irrevocable trust providing that the income be paid to his wife during her lifetime and that upon her death the principal be paid to the grantor, if living, and, if not, to designated persons.
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INCOME - TRUSTS. - Petitioner created an irrevocable trust providing that the income be paid to his wife during her lifetime and that upon her death the principal be paid to the grantor, if living, and, if not, to designated persons. Further, the trust instrument reserved to the grantor, inter alia, the power to sell, invest, and reinvest the trust property; to vote the trusteed shares of stock; to designate the depository of the trust funds; to fill trustee vacancies and designate other or additional trustees; and to alter, modify, or vary the terms of the trust except not in such a manner…
1Opinion of the Court
*995OPINION.
Tyson :
This proceeding involves a portion of an income tax deficiency of $1,804.97 determined by respondent for the year 1934.
The only question, is whether the income of a certain trust for the year 1934 is taxable to the petitioner, the grantor of such trust.
The petitioner, a resident of the City and State of New York, has been for many years engaged in practicing his profession as attorney at law. The petitioner’s wife, Berdie H. Stein, and their daughter, Margaret, born June 22, 1910, were living throughout the taxable year. Their son, David, died in 1933.
By a written trust…
2Cases cited1 opinion
- Helvering v. CliffordSupreme Court of the United States · 1940
3Cited by8 opinions
- Amory v. CommissionerUnited States Tax Court · 1946
- Bissinger v. CommissionerUnited States Tax Court · 1943
- Edison v. CommissionerUnited States Tax Court · 1944
- Estate of Weil v. CommissionerUnited States Tax Court · 1943
- George v. CommissionerUnited States Tax Court · 1943
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