Smith v. Commissioner
United States Board of Tax Appeals
The sole beneficiary for life of the entire income of an estate or trust, created under a will, is taxable on the basis of such income as is credited or distributable to her, regardless of the fact that it was not actually distributed within the taxable year.
1Opinion of the Court
*227OPINION.
MaRQUette :
The Commissioner in liis answer to the petition herein denies that the Board has jurisdiction to hear and determine the taxpayer’s appeal as to the years 1918 to 1920, for the reason “ that the Commissioner has not determined that a deficiency in tax is due from the taxpayer for either the years 1918 or 1919.”
We think that the Commissioner’s position as to the jurisdiction of the Board to determine the taxpayer’s tax liability for the year 1920 is well taken. The record herein discloses that no deficiency in tax has been asserted by the Commissioner for that year, but that,…
2Cited by2 opinions
- McCrory v. CommissionerUnited States Board of Tax Appeals · 1932
- Smith v. CommissionerUnited States Board of Tax Appeals · 1926