Newman v. Commissioner
United States Tax Court
Petitioner's wife created two trusts, consisting of securities, each of which named petitioner as sole trustee. One trust was for the benefit of their daughter and the other for the benefit of their son. The trust income was payable to the beneficiary for life, and at the death of the beneficiary the trust was to be terminated and the residue paid over to petitioner.
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Petitioner's wife created two trusts, consisting of securities, each of which named petitioner as sole trustee. One trust was for the benefit of their daughter and the other for the benefit of their son. The trust income was payable to the beneficiary for life, and at the death of the beneficiary the trust was to be terminated and the residue paid over to petitioner. If petitioner predeceased the beneficiary, the remainder was to be paid over to such persons as petitioner might by will appoint, and in default thereof the remainder was payable to petitioner's distributees. In addition to broad…
1Opinion of the Court
OPINION.
Disney, Judge:
Respondent has determined a deficiency in petitioner’s income tax by including in his income the income of certain trusts created for the benefit of his children. The only question is whether petitioner has such dominion over the income and the trust estate as to be deemed the real owner thereof, in which event the income would be taxable to him under the provisions of section 22 (a) as construed by the United States Supreme Court in Helvering v. Clifford, 309 U. S. 331. Recently we had occasion to consider whether the income from this tx ast was taxable to petitioner’s…
2Cases cited5 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Douglas v. WillcutsSupreme Court of the United States · 1935
- Mallinckrodt v. CommissionerUnited States Tax Court · 1943
- Newman v. CommissionerUnited States Tax Court · 1943
3Cited by12 opinions
- Commissioner of Internal Revenue v. NewmanCourt of Appeals for the Second Circuit · 1947
- Vinson & Elkins v. CommissionerUnited States Tax Court · 1992
- Funk v. CommissionerUnited States Tax Court · 1946
- Conant v. CommissionerUnited States Tax Court · 1946
- Backus v. CommissionerUnited States Tax Court · 1946
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