Legal Opinion
Loyd v. United States
United States Court of Claims
Decided July 12, 1957No. 91-56PublishedCited by 22 opinions
1Opinion of the Court
JONES, Chief Judge.
This is an action for the recovery of income taxes alleged to have been illegally assessed against plaintiffs, executors of the estate of Grace Stone Keller, in the amount of $59,693.79 for the year 1953. The sole issue presented is whether the executors of an estate can properly deduct litigation expenses incurred in prosecuting a suit to have a residuary trust declared void and the trust property paid into the estate. The applicable sections of the Internal Revenue Code of 1939 are section 162 and section 23(a) (2), 26 U.S.C.A. (I.R.C.1939) §§ 162, 23(a) (2), which follow:
2Cases cited3 opinions
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- Maguire v. LoydSupreme Court of Virginia · 1951
- Maguire v. LoydSupreme Court of Virginia · 1952
3Cited by22 opinions
- Industrial Aggregate Company, a Corporation v. United StatesCourt of Appeals for the Eighth Circuit · 1960
- Manufacturers Hanover Trust Company, as Trustee Under Indenture Dated November 15, 1927, Made by Henry H. Rogers, Deceased v. The United StatesUnited States Court of Claims · 1963
- Matthews v. United StatesUnited States Court of Claims · 1970
- Allied Chemical Corp. v. United StatesUnited States Court of Claims · 1962
- Southland Royalty Co. v. United StatesUnited States Court of Claims · 1978
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