Ives v. Commissioner
United States Board of Tax Appeals
1. Certain revocable trust instruments of the character shown in the findings of fact were executed by the petitioners, May 1, 1923, and remained revocable during that year. Held, the income arising from such trusts during that year is taxable to the petitioners. 2. In 1924 the aforesaid trusts were revoked and other trusts of similar character except irrevocable in nature were made by petitioners.
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1. Certain revocable trust instruments of the character shown in the findings of fact were executed by the petitioners, May 1, 1923, and remained revocable during that year. Held, the income arising from such trusts during that year is taxable to the petitioners. 2. In 1924 the aforesaid trusts were revoked and other trusts of similar character except irrevocable in nature were made by petitioners. Held, the latter trusts operated as absolute assignments or transfers of property and property rights and the income arising therefrom in 1928 and 1929, the years in issue, is not taxable to the…
1Opinion of the Court
CHARLES E. IVES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
JULIAN S. MYRICK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Ives v. Commissioner
Docket Nos. 40423, 40424, 51526, 51527, 63376.
United States Board of Tax Appeals
29 B.T.A. 822; 1934 BTA LEXIS 1476;
January 18, 1934, Promulgated
1. Certain revocable trust instruments of the character shown in the findings of fact were executed by the petitioners, May 1, 1923, and remained revocable during that year. Held, the income arising from such trusts during that year is taxable to the petitioners.
2. In 1924 the…
2Cases cited1 opinion
- Ives v. CommissionerUnited States Board of Tax Appeals · 1934