Hogle v. Commissioner
United States Tax Court
Gift Tax -- Gift of Trust Income Taxable To Grantor. -- Where income of a trust is realized by the trust so that it is impressed with the trust as it arises, it does not represent a gift from the grantor, even though it is taxable to him.
1Opinion of the Court
OPINION.
Murdock, Judge:
The only question presented for decision in this case is whether the Commissioner erred in including in taxable gifts the profits from trading on margin for the accounts of the two trusts. The Commissioner argues that, since the income from marginal trading in the accounts for the years 1934 through 1937 was held taxable to the petitioner, it follows that the similar income for the years 1936 through 1940 mpst first have belonged to the petitioner and .have been given by him to the trusts. This contention is not supported by the authorities cited by the respondent or by…
2Cases cited1 opinion
- Lucas v. EarlSupreme Court of the United States · 1930
3Cited by18 opinions
- Harrison v. CommissionerUnited States Tax Court · 1952
- Thorrez v. CommissionerUnited States Tax Court · 1958
- Rohmer v. CommissionerUnited States Tax Court · 1954
- Lockard v. CommissionerUnited States Tax Court · 1946
- Henson v. CommissionerUnited States Tax Court · 1948
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