O'Brien v. Commissioner
United States Tax Court
Petitioners created a trust, naming themselves trustees and life income beneficiaries, with gifts in remainder to certain charitable organizations. The trust provided the trustees with broad management powers, including the right to sell and reinvest corpus and designate new charitable beneficiaries. The trust also provided that petitioners would be able to recapture their gifts to the trust if the Commissioner disallowed their gifts as charitable contributions.
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Petitioners created a trust, naming themselves trustees and life income beneficiaries, with gifts in remainder to certain charitable organizations. The trust provided the trustees with broad management powers, including the right to sell and reinvest corpus and designate new charitable beneficiaries. The trust also provided that petitioners would be able to recapture their gifts to the trust if the Commissioner disallowed their gifts as charitable contributions. Respondent ruled that the trust was not tax-exempt and that gifts thereto would not be deductible. Subsequently, petitioners…
1Opinion of the Court
William D. O'Brien and Gertrude O'Brien, Petitioners, v. Commissioner of Internal Revenue, Respondent
O'Brien v. Commissioner
Docket No. 5932-65
United States Tax Court
46 T.C. 583; 1966 U.S. Tax Ct. LEXIS 63;
August 10, 1966, Filed
Decision will be entered under Rule 50.
Petitioners created a trust, naming themselves trustees and life income beneficiaries, with gifts in remainder to certain charitable organizations. The trust provided the trustees with broad management powers, including the right to sell and reinvest corpus and designate new charitable beneficiaries. The trust also provided that…
2Cases cited15 opinions
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Boyd v. Frost National Bank of S.A.Texas Supreme Court · 1946
- Danz v. CommissionerUnited States Tax Court · 1952
- The John Danz Charitable Trust v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1956
- Waller v. CommissionerUnited States Tax Court · 1963
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