Lum v. Commissioner
United States Tax Court
Commissions received by petitioner as trustee in the taxable year 1944 amounting to less than 80 per cent of total commissions on same trust received in that, as well as prior and subsequent years, held not subject to apportionment under section 107, notwithstanding that they were more than 80 per cent of commissions paid up to and including 1944, when petitioner rendered his first intermediate account.
1Opinion of the Court
OPINION.
Oppek, Judge:
A further aspect of the application of section 107, Internal Revenue Code,1 to the trustee of a continuing trust is presented by this proceeding. Petitioner does not contend, as in Paul H. Smart, 4 T. C. 846, 853; affd. (C. C. A., 2d Cir.), 152 Fed. (2d) 333; certiorari denied, 327 U. S. 804; and Harry Civiletti, 3 T. C. 1274; affd. (C. C. A., 2d Cir.), 152 Fed. (2d) 332; certiorari denied, 327 U. S. 804, that his compensation should be segregated between the services dealing with corpus and with income. Such an attempt would be doomed at the outset, on the authority of…
2Cases cited5 opinions
- Farr v. CommissionerUnited States Tax Court · 1948
- Civiletti v. CommissionerUnited States Tax Court · 1944
- Mathey v. Comm'rUnited States Tax Court · 1948
- Nast v. CommissionerUnited States Tax Court · 1946
- In Re McMillinNew Jersey Court of Chancery · 1936
3Cited by33 opinions
- Estate of Scofield v. CommissionerUnited States Tax Court · 1956
- Woodward v. CommissionerUnited States Tax Court · 1968
- Loew v. CommissionerUnited States Tax Court · 1952
- Pierce v. CommissionerUnited States Tax Court · 1955
- Warren v. CommissionerUnited States Tax Court · 1953
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