McClung v. Commissioner
United States Board of Tax Appeals
Decedent's will bequeathed the residue of his estate to an educational institution. A contest of the will was compromised, the residuary legatee and the contestants agreeing that the latter should receive one-half of the residue. Held, that the entire residue was permanently set aside by the terms of the will for the educational institution and the income is deductible by the executors.
1Opinion of the Court
*337OPINION.
Aetjndell :
We have included in our findings only such facts as are necessary to dispose of the principal question presented. There is in the record a great deal of evidence bearing on other issues raised by the pleadings, but in the view we take of the case these subsidiary issues will not require decision, and accordingly we have made no findings concerning them.
The main issue is whether the income from the residuary estate is deductible by the executors under section 219 (b) of the Revenue Acts of 1918 and 1921, as “ paid to or permanently set aside for ” the University of…
2Cases cited10 opinions
- In Re the Appraisal, Under the Transfer Tax Act, of the Estate of CookNew York Court of Appeals · 1907
- English v. CrenshawTennessee Supreme Court · 1908
- In re Estate of GravesIllinois Supreme Court · 1909
- People v. Union Trust Co.Illinois Supreme Court · 1912
- Brandeis v. AtkinsMassachusetts Supreme Judicial Court · 1910
5 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Estate of Harry E. Wright, Jr. v. United StatesCourt of Appeals for the Ninth Circuit · 1982
- Tracy v. CommissionerUnited States Board of Tax Appeals · 1934
- Old Colony Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Auld v. CommissionerUnited States Board of Tax Appeals · 1928
- Kearney v. CommissionerUnited States Board of Tax Appeals · 1934
2 more not listed; retrieve them via the Exa API.