Small v. Commissioner
United States Tax Court
Income from a long term irrevocable trust of which petitioner was grantor and trustee, and over which the trustee had broad powers of management, held, not taxable to petitioner. Sec. 134, Revenue Act of 1943.
1Opinion of the Court
OPINION.
Opper, Judge:
The problem here is whether the controls retained by petitioner over the trust of which he was grantor-trustee, including the possible benefit available through the discretionary use of income for the maintenance of his dependents, are such as to make the trust income his own under section 22 (a) and the principle of Helvering v. Clifford, 309 U. S. 331.
In Frederick Ayer, 45 B. T. A. 146, we were confronted with an essentially similar problem. There, as here, the grantor retained broad powers of management.1 The corpus consisted of stock in a family corporation of which…
2Cases cited3 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Cartinhour v. CommissionerUnited States Tax Court · 1944
3Cited by2 opinions
- Hall v. CommissionerCourt of Appeals for the Tenth Circuit · 1945
- Small v. CommissionerUnited States Tax Court · 1944