Fisher v. Commissioner
United States Tax Court
Payments to petitioner to continue for her life and resulting from surrender during his lifetime of insurance policies on her husband's life of which she was beneficiary, held annuities which respondent did not err in taxing to her under the 3 per cent annuity provision of Internal Revenue Code, section 22 (b) (2).
1Opinion of the Court
OPINION.
OppeR, Judge-.
Section 22 (b) (1) and (2) of the Internal Revenue Code,1 which is involved here, deals in terms with three types of contract — life insurance, annuity, and endowment. Subsection (b) (1), covering amounts received under a life insurance contract paid by reason of the death of the insured, is concededly inapplicable. Cf. Grace R. Maxson Hall, 12 T. C. 419. Subsection (b) (2) refers in its first sentence to “Amounts received * * * under a life insurance * * * contract,” but excepts “amounts received as annuities” thereunder. Its second sentence prescribes the treatment of…
2Cases cited6 opinions
- Helvering v. Stockholms Enskilda BankSupreme Court of the United States · 1934
- Burnet v. WhitehouseSupreme Court of the United States · 1931
- Thornley v. CommissionerUnited States Tax Court · 1943
- Igleheart v. CommissionerUnited States Tax Court · 1948
- Shelley v. CommissionerUnited States Tax Court · 1948
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Fisher v. CommissionerUnited States Tax Court · 1949