Irvine v. Commissioner
United States Board of Tax Appeals
1. Petitioner, a man of mature age with adult children by a first marriage, created a trust as part of an antenuptial agreement with his second wife, a woman of mature age with an adult child by a first marriage, the income to be paid to her for her use in purchasing clothing and for any other use which she might choose.
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1. Petitioner, a man of mature age with adult children by a first marriage, created a trust as part of an antenuptial agreement with his second wife, a woman of mature age with an adult child by a first marriage, the income to be paid to her for her use in purchasing clothing and for any other use which she might choose. Petitioner agreed to furnish necessaries other than clothing to his wife from his own income, and in consideration of the establishment of the trust the wife surrendered all community rights to petitioner's property and income. Held, under facts, only that part of the income…
1Opinion of the Court
*255OPINION.
Trust Income Issue.
Keen :
The first issue for our consideration is whether the amount of $18,000 representing income of an antenuptial trust set up by petitioner for his second wife, which amount was paid to her by the trustee in the taxable year, is properly includible in petitioner’s taxable income.
Eespondent argues, first, that the income is taxable to the petitioner under the provisions of section 167 of the Revenue Act of 1936.2 Our findings of fact, supra, disclose that, although the petitioner did possess during the taxable year the power to revoke, alter, amend, or modify the…
2Cases cited4 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Douglas v. WillcutsSupreme Court of the United States · 1935
- Helvering v. LeonardSupreme Court of the United States · 1940
- Wren v. WrenCalifornia Supreme Court · 1893
3Cited by3 opinions
- Estate of George H. Wadleigh v. CommissionerUnited States Tax Court · 1945
- Irvine v. CommissionerUnited States Board of Tax Appeals · 1942
- Yankey v. CommissionerUnited States Tax Court · 1944