Smith v. Commissioner
United States Board of Tax Appeals
The sole beneficiary for life of the entire income of an estate or trust, created under a will, is taxable on the basis of such income as is credited or distributable to her, regardless of the fact that it was not actually distributed within the taxable year.
1Opinion of the Court
APPEAL OF FLORENCE M. SMITH, EXECUTRIX OF THE ESTATE OF SARAH F. MASON.
Smith v. Commissioner
Docket No. 3782.
United States Board of Tax Appeals
5 B.T.A. 225; 1926 BTA LEXIS 2925;
October 27, 1926, Decided
The sole beneficiary for life of the entire income of an estate or trust, created under a will, is taxable on the basis of such income as is credited or distributable to her, regardless of the fact that it was not actually distributed within the taxable year.
Melvin G. Pallister, Esq., for the petitioner.
John W. Fisher, Esq., for the Commissioner.
MARQUETTE
This appeal is from the determination of…
2Cases cited5 opinions
- Cornelius Cotton Mills v. CommissionerUnited States Board of Tax Appeals · 1926
- Terminal Wine Co. v. CommissionerUnited States Board of Tax Appeals · 1925
- Cook v. CommissionerUnited States Board of Tax Appeals · 1926
- Joseph Garneau Co. v. CommissionerUnited States Board of Tax Appeals · 1924
- Smith v. CommissionerUnited States Board of Tax Appeals · 1926