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
Raymond J. Dusek and Velma W. Dusek, Petitioners, v. Commissioner of Internal Revenue, Respondent
Dusek v. Commissioner
Docket No. 5074-63
United States Tax Court
45 T.C. 355; 1966 U.S. Tax Ct. LEXIS 153;
January 4, 1966, Filed
Decision will be entered under Rule 50.
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…
2Cases cited4 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
- Dusek v. CommissionerUnited States Tax Court · 1966