Dusek v. Commissioner
United States Tax Court
Held, that where under the provisions of a trust the trustee was to set up a reserve for depreciation in respect of the trust properties, the allowable deduction for such depreciation is, under the applicable regulations, first allocated to the trustee; and that under the facts here present, no portion of said depreciation deduction is allowable to the income beneficiary.
1Opinion of the Court
PiERCE, Judge:
Respondent determined deficiencies in the income taxes of the petitioners for the taxable calendar years 1959,1960, and 1961, in the amounts of $2,687.49, $4,922.61, and $2,314.39, respectively. Subsequently at the commencement of the trial herein, he asserted claim to additional deficiencies for the years 1959 and 1960 in the respective amounts of $49.68 and $107.66.
The issues presented are:(1) Whether petitioner Velma W. Dusek, who was the income beneficiary of a trust created by her husband, was entitled to deduct on the joint income tax return that she filed with her husband…
2Cases cited3 opinions
- John R. Upton, Anna L. S. Upton and Margaret St. Aubyn v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1960
- Newbury v. United StatesUnited States Court of Claims · 1944
- Upton v. CommissionerUnited States Tax Court · 1959
3Cited by5 opinions
- Tiefenbrunn v. CommissionerUnited States Tax Court · 1980
- Hay v. United StatesDistrict Court, N.D. Texas · 1967
- Raymond J. Dusek and Velma W. Dusek v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1967
- Dusek v. CommissionerUnited States Tax Court · 1966
- Tiefenbrunn v. CommissionerUnited States Tax Court · 1980