Catlin v. Commissioner
United States Board of Tax Appeals
Petitioners were the settlors and sole beneficiaries of a revocable trust. Two of the three were trustees of the trust and the third trustee was the husband of the third settlor-beneficiary. During 1922 and 1923 the trust estate sold certain stocks held by it at a loss. The larger part of such sales were made to the mother of the petitioners.
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Petitioners were the settlors and sole beneficiaries of a revocable trust. Two of the three were trustees of the trust and the third trustee was the husband of the third settlor-beneficiary. During 1922 and 1923 the trust estate sold certain stocks held by it at a loss. The larger part of such sales were made to the mother of the petitioners. Held, that such sales were not of trust property within the meaning of the Revenue Act of 1921, and that petitioners are entitled to deduct from their personal incomes, pro rata, losses sustained on such sales. Held, further, that the sales to…
1Opinion of the Court
THERON E. CATLIN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
IRENE C. ALLEN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
DANIEL K. CATLIN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Catlin v. Commissioner
Docket Nos. 25413, 25414, 25421.
United States Board of Tax Appeals
25 B.T.A. 834; 1932 BTA LEXIS 1464;
March 11, 1932, Promulgated
Petitioners were the settlors and sole beneficiaries of a revocable trust. Two of the three were trustees of the trust and the third trustee was the husband of the third settlor-beneficiary. During 1922 and 1923 the…
2Cases cited4 opinions
- Studebaker v. CommissionerUnited States Board of Tax Appeals · 1925
- Fleming v. CommissionerUnited States Board of Tax Appeals · 1927
- McConnell v. CommissionerUnited States Board of Tax Appeals · 1926
- Catlin v. CommissionerUnited States Board of Tax Appeals · 1932