Black v. Commissioner
United States Board of Tax Appeals
Income received in 1934 on corporate shares held by four trusts created by petitioner in 1933, of each of which petitioner's wife and three minor children were respective beneficiaries, held not taxable to petitioner in 1934, none of such income in that year having been used for the support and maintenance of the beneficiaries or in discharge of any other of petitioner's obligations.
1Opinion of the Court
OPINION.
Sternhagen :
The Commissioner determined a deficiency of $2,559.56 in petitioner’s individual income tax for 1934. Aside from minor adjustments which are not assailed, the Commissioner included in petitioner’s income $8,000 dividends on corporate shares held by four trusts created by petitioner in 1933, of each of which petitioner’s wife and three minor children were the respective beneficiaries. This inclusion the petitioner assails.
We are of opinion that the Commissioner’s determination is in error. The trusts were complete and irrevocable. Petitioner had no right to the income…
2Cited by14 opinions
- Hopkins v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1944
- Hudson v. JonesDistrict Court, W.D. Oklahoma · 1938
- Ayer v. CommissionerUnited States Board of Tax Appeals · 1941
- Black v. CommissionerUnited States Board of Tax Appeals · 1937
- Borroughs v. McColganCalifornia Supreme Court · 1943
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