Koepfli v. Commissioner
United States Tax Court
1. Held, on the facts, that trust income was to be distributed currently and therefore was taxable to petitioner as beneficiary, under section 162 (b), Internal Revenue Code. 2. Held, that there is no evidence to sustain the respondent's prayer for increased deficiency on the ground that capital losses were charged to corpus and were not deductible from trust income taxable to the petitioner.
1Opinion of the Court
Joseph Blake Koepfli, Petitioner, v. Commissioner of Internal Revenue, Respondent
Koepfli v. Commissioner
Docket No. 11682
United States Tax Court
11 T.C. 352; 1948 U.S. Tax Ct. LEXIS 85;
September 23, 1948, Promulgated
Decision will be entered under Rule 50.
1. Held, on the facts, that trust income was to be distributed currently and therefore was taxable to petitioner as beneficiary, under section 162 (b), Internal Revenue Code.
2. Held, that there is no evidence to sustain the respondent's prayer for increased deficiency on the ground that capital losses were charged to corpus and were not…
2Cases cited2 opinions
- Harris v. CommissionerUnited States Tax Court · 1945
- Koepfli v. CommissionerUnited States Tax Court · 1948