Morrison v. Commissioner
United States Tax Court
Ps directed their stockbroker on Feb. 12, 1980, to transfer stock to their church. Such transfer was effected on the books of the stockbroker on Feb. 25, 1980. Ps received no consideration for such transfer. Ps established a family trust using materials purchased from the promoters of family trust plans.
Read the full summary
Ps directed their stockbroker on Feb. 12, 1980, to transfer stock to their church. Such transfer was effected on the books of the stockbroker on Feb. 25, 1980. Ps received no consideration for such transfer. Ps established a family trust using materials purchased from the promoters of family trust plans. Ps relied entirely on the representations of such promoters regarding the suitability of family trusts and, despite questions, did not obtain advice of an independent expert regarding such trusts. Held: (1) Ps' gift of stock to their church was complete on the date the stock was transferred…
1Opinion of the Court
ROGER B. MORRISON and SUSAN T. MORRISON, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Morrison v. Commissioner
Docket No. 23247-84.
United States Tax Court
T.C. Memo 1987-112; 1987 Tax Ct. Memo LEXIS 108; 53 T.C.M. (CCH) 251; T.C.M. (RIA) 87112;
February 24, 1987.
Ps directed their stockbroker on Feb. 12, 1980, to transfer stock to their church. Such transfer was effected on the books of the stockbroker on Feb. 25, 1980. Ps received no consideration for such transfer. Ps established a family trust using materials purchased from the promoters of family trust plans. Ps relied entirely…
2Cases cited20 opinions
- Grosshandler v. CommissionerUnited States Tax Court · 1980
- Cupp v. CommissionerUnited States Tax Court · 1975
- Beard v. Comm'rUnited States Tax Court · 1984
- Stephenson v. CommissionerUnited States Tax Court · 1982
- Robert D. Beard v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1986
15 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Andrew Crispo Gallery, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1994
- Ferguson v. CommissionerUnited States Tax Court · 1997
- Ferguson v. CommissionerUnited States Tax Court · 1997
- Michael Ferguson and Valene Ferguson v. CommissionerUnited States Tax Court · 1997