Brenneman v. Commissioner
United States Board of Tax Appeals
1. Terms of a trust instrument construed to require distribution of net income, as used in the Revenue Acts, to the beneficiaries. 2. In computing net income for the purpose of distribution to beneficiaries, the trustees, under the facts in this case, may deduct amounts for depreciation and depletion of an oil-producing property comprising part of the trust, and the amounts so deducted are neither distributable nor taxable to the beneficiaries in the proportionate shares. 3.…
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1. Terms of a trust instrument construed to require distribution of net income, as used in the Revenue Acts, to the beneficiaries. 2. In computing net income for the purpose of distribution to beneficiaries, the trustees, under the facts in this case, may deduct amounts for depreciation and depletion of an oil-producing property comprising part of the trust, and the amounts so deducted are neither distributable nor taxable to the beneficiaries in the proportionate shares. 3. In computing net income of the trust for the purpose of distribution the trustees may not deduct the amount of a…
1Opinion of the Court
E. L. E. BRENNEMAN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
VERNA L. BRENNEMAN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
DAVID E. BRENNEMAN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Brenneman v. Commissioner
Docket Nos. 8323, 8324, 8361.
United States Board of Tax Appeals
10 B.T.A. 544; 1928 BTA LEXIS 4087;
February 6, 1928, Promulgated
1. Terms of a trust instrument construed to require distribution of net income, as used in the Revenue Acts, to the beneficiaries.
2. In computing net income for the purpose of distribution to beneficiaries,…
2Cases cited2 opinions
- Widener v. CommissionerUnited States Board of Tax Appeals · 1927
- Brenneman v. CommissionerUnited States Board of Tax Appeals · 1928