Bonney v. Commissioner
United States Board of Tax Appeals
Many years prior to his death the decedent transferred in trust certain securities, the income from which was to be paid to him during his lifetime and upon his death to his wife for her lifetime should she be living and upon her death to his daughter for her lifetime, with power of testamentary disposition in the daughter. In event of decedent surviving both his wife and daughter the properties were to be returned to him.
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Many years prior to his death the decedent transferred in trust certain securities, the income from which was to be paid to him during his lifetime and upon his death to his wife for her lifetime should she be living and upon her death to his daughter for her lifetime, with power of testamentary disposition in the daughter. In event of decedent surviving both his wife and daughter the properties were to be returned to him. However, should he and the daughter predecease the wife the properties were to be distributed to the distributees of his personal estate entitled to receive the same under…
1Opinion of the Court
FLORA M. BONNEY AND ALICE E. CRAWFORD, EXECUTRICES OF THE LAST WILL AND TESTAMENT OF JAMES A. MACDONALD, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bonney v. Commissioner
Docket No. 55248.
United States Board of Tax Appeals
29 B.T.A. 45; 1933 BTA LEXIS 1008;
September 22, 1933, Promulgated
Many years prior to his death the decedent transferred in trust certain securities, the income from which was to be paid to him during his lifetime and upon his death to his wife for her lifetime should she be living and upon her death to his daughter for her lifetime, with power of…
2Cases cited1 opinion
- Bonney v. CommissionerUnited States Board of Tax Appeals · 1933