Rubinstein v. Commissioner
United States Board of Tax Appeals
Where property was conveyed to a trustee, during the period section 504(b) of the Revenue Act of 1932 was in force, to be held for the benefit of the settlor's wife and three children, held, that in computing the gift tax due, four exclusions of $5,000 each should be allowed. Welch v. Davidson, 102 Fed.(2d) 100; Robertson v. Nee, 105 Fed.(2d) 651; Rheinstrom v. Commissioner, 105 Fed.(2d) 642; and McBrier v. Commissioner, 108 Fed.(2d) 967, followed.
1Opinion of the Court
*221OPINION.
Mellott:
The Commissioner determined a deficiency in gift tax in the amount of $1,395 ($300 for 1936 and $1,095 for 1937). The sole issue is whether there should be four $5,000 exclusions under section 504 (b) of the Revenue Act of 1932,1 or whether there should he but one.
All of the facts were stipulated. Stated briefly, the petitioner, in 1936, conveyed to a trust notes having a value of $48,000. On January 5, 1937, he conveyed other notes having a value of $43,000. The trust was set up for the purpose of “providing an independent income for his wife, Blanche Rubinstein, and his…
2Cited by8 opinions
- Helvering v. RubinsteinCourt of Appeals for the Eighth Circuit · 1942
- Hutchings v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1940
- Gregory v. State of CaliforniaCalifornia Court of Appeal · 1946
- Faulkner v. CommissionerUnited States Board of Tax Appeals · 1940
- Gregory v. State of CaliforniaCalifornia Court of Appeal · 1946
3 more not listed; retrieve them via the Exa API.