Dunning v. Commissioner
United States Board of Tax Appeals
1. Where a taxpayer creates trusts under which he appoints himself as a cotrustee and gives to himself the sole power to invest and reinvest surplus income of the trust and to vote stock conveyed to the trust; and where the trust is irrevocable for a period of five years after which time it may be terminated by the grantor and the corpus of the trust returned; and where the trust is terminated in a year other than the taxable year and the corpus returned to him is only the…
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1. Where a taxpayer creates trusts under which he appoints himself as a cotrustee and gives to himself the sole power to invest and reinvest surplus income of the trust and to vote stock conveyed to the trust; and where the trust is irrevocable for a period of five years after which time it may be terminated by the grantor and the corpus of the trust returned; and where the trust is terminated in a year other than the taxable year and the corpus returned to him is only the original corpus and not investments acquired from accumulated income, held, that income of the trust is not taxable to…
1Opinion of the Court
HENRY A. B. DUNNING, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Dunning v. Commissioner
Docket No. 83459.
United States Board of Tax Appeals
36 B.T.A. 1222; 1937 BTA LEXIS 605;
December 31, 1937, Promulgated
1. Where a taxpayer creates trusts under which he appoints himself as a cotrustee and gives to himself the sole power to invest and reinvest surplus income of the trust and to vote stock conveyed to the trust; and where the trust is irrevocable for a period of five years after which time it may be terminated by the grantor and the corpus of the trust returned; and where the…
2Cases cited2 opinions
- Douglas v. WillcutsSupreme Court of the United States · 1935
- Dunning v. CommissionerUnited States Board of Tax Appeals · 1937