James v. Commissioner
United States Tax Court
Petitioner created an irrevocable trust. The trustee was directed to make annual payments of a specified amount for 10 years, first from income and then, if necessary, from principal, to such charity or charities of the character described in sec. 170(b)(1)(A), I.R.C. 1954, as the trustee selected.
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Petitioner created an irrevocable trust. The trustee was directed to make annual payments of a specified amount for 10 years, first from income and then, if necessary, from principal, to such charity or charities of the character described in sec. 170(b)(1)(A), I.R.C. 1954, as the trustee selected. Held, petitioner's contribution to the trust did not qualify for the additional deduction under sec. 170 (b)(1)(A) because it was not made to the eligible class of charities, as required by that section. John I. Appleby, 48 T.C. 330 (1967), followed. Alice Tully, 48 T.C. 235 (1967), distinguished.
1Opinion of the Court
OPINION
Tannenwald, Judge:
Respondent determined a deficiency of $1,-477.05 in petitioners’ Federal income tax for 1968. The issue for decision is whether the value of a term interest in an irrevocable trust created by petitioner Lawrence R. James qualifies for the additional allowance of charitable contribution deductions under section 170(b) (1) (A).1
All of the facts have been stipulated and are found accordingly.
Petitioners are husband and wife whose legal residence was in Omaha, Nebr., at the time of filing the petition herein. They filed a joint Federal income tax return for 1968 with the…
2Cases cited4 opinions
- Commissioner v. Estate of SternbergerSupreme Court of the United States · 1955
- Darling v. CommissionerUnited States Tax Court · 1965
- Appleby v. CommissionerUnited States Tax Court · 1967
- Tully v. CommissionerUnited States Tax Court · 1967
3Cited by3 opinions
- Rockefeller v. CommissionerUnited States Tax Court · 1981
- James v. CommissionerUnited States Tax Court · 1974
- Rockefeller v. CommissionerUnited States Tax Court · 1981