Jones v. Commissioner
United States Tax Court
1. Insured, prior to his death, made an election that payments to beneficiary under life insurance policy be made in 180 monthly installments of $ 106.80. After insured's death beneficiary received these payments for nearly 5 years, and then arranged with insurer for the termination of the life insurance policy and the issuance of a new annuity policy providing for payments of $ 44.98 per month for 120 months and thereafter as long as he lived.
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1. Insured, prior to his death, made an election that payments to beneficiary under life insurance policy be made in 180 monthly installments of $ 106.80. After insured's death beneficiary received these payments for nearly 5 years, and then arranged with insurer for the termination of the life insurance policy and the issuance of a new annuity policy providing for payments of $ 44.98 per month for 120 months and thereafter as long as he lived. Held, payments under new policy were amounts received "as an annuity under an annuity * * * contract" and excludible from gross income only to the…
1Opinion of the Court
Clarence B. Jones and Nancy Brown Jones, Petitioners, v. Commissioner of Internal Revenue, Respondent
Jones v. Commissioner
Docket No. 37031
United States Tax Court
22 T.C. 407; 1954 U.S. Tax Ct. LEXIS 195;
May 27, 1954, Filed. May 27, 1954, Filed
Decision will be entered under Rule 50.
1. Insured, prior to his death, made an election that payments to beneficiary under life insurance policy be made in 180 monthly installments of $ 106.80. After insured's death beneficiary received these payments for nearly 5 years, and then arranged with insurer for the termination of the life insurance policy and…
2Cases cited11 opinions
- Leslie v. CommissionerUnited States Tax Court · 1946
- Robinson v. CommissionerUnited States Tax Court · 1943
- Grammer v. CommissionerUnited States Tax Court · 1949
- Neave v. CommissionerUnited States Tax Court · 1952
- Commissioner of Internal Revenue v. WinslowCourt of Appeals for the First Circuit · 1940
6 more not listed; retrieve them via the Exa API.