Kelly v. Commissioner
United States Tax Court
Gifts of trust income required to be paid to their guardians for the education, maintenance and support of minor beneficiaries held not gifts of future interests so as to eliminate permitted exclusions under section 1003, Internal Revenue Code. Madeleine N. Sharp, 3 T.C. 1062, affd. (C. A. 9) 153 F.2d 163, followed.
1Opinion of the Court
Edward J. Kelly, Petitioner, v. Commissioner of Internal Revenue, Respondent
Kelly v. Commissioner
Docket No. 35676
United States Tax Court
19 T.C. 27; 1952 U.S. Tax Ct. LEXIS 73;
October 13, 1952, Promulgated
Decision will be entered under Rule 50.
Gifts of trust income required to be paid to their guardians for the education, maintenance and support of minor beneficiaries held not gifts of future interests so as to eliminate permitted exclusions under section 1003, Internal Revenue Code. Madeleine N. Sharp, 3 T.C. 1062, affd. (C. A. 9) 153 F.2d 163, followed.
William W. Ellis, Jr., Esq., for the…
2Cases cited5 opinions
- Fisher v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1942
- Commissioner of Internal Revenue v. SharpCourt of Appeals for the Ninth Circuit · 1946
- Fisher v. CommissionerUnited States Board of Tax Appeals · 1941
- Sharp v. CommissionerUnited States Tax Court · 1944
- Kelly v. CommissionerUnited States Tax Court · 1952