Glinske v. Commissioner
United States Tax Court
During the taxable year petitioner's employer discontinued an employees' pension trust plan, and, pursuant to an order of court, petitioner received, as one of the named beneficiaries, the major portion of his distributive share of the pension trust fund. Petitioner made no contribution to and received no distribution from the employees' pension trust during its continuance.
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During the taxable year petitioner's employer discontinued an employees' pension trust plan, and, pursuant to an order of court, petitioner received, as one of the named beneficiaries, the major portion of his distributive share of the pension trust fund. Petitioner made no contribution to and received no distribution from the employees' pension trust during its continuance. Held, the distributive share received by petitioner during the taxable year was ordinary income and not long term capital gain.
1Opinion of the Court
OPINION.
Rice, Judge:
The question presented requires an interpretation of section 165 (b), Internal Revenue Code,1 and an application of the law to facts that are not in dispute. Petitioner contends that Congress, in writing section 165 (b), “intended the forepart thereof to cover the case of a distributee still joined with the service and the latter part thereof to cover the case of a distributee separated from the service (whether through discontinued plan or resignation or discharge the circumstances are entirely alike) and to preclude treatment of any proceeds whatsoever as gross income,…
2Cited by52 opinions
- United States v. Ophelia Johnson and Ophelia R. Johnson, as Under the Last Will and Testament of Clifford L. Johnson, DeceasedCourt of Appeals for the Fifth Circuit · 1964
- Miller v. CommissionerUnited States Tax Court · 1954
- United States v. Ben Martin and Rachel T. MartinCourt of Appeals for the Eighth Circuit · 1964
- E. N. Funkhouser and Estate of Nellie S. Funkhouser, Deceased, E. N. Funkhouser v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1967
- Funkhouser v. CommissionerUnited States Tax Court · 1965
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