Julia R. & Estelle L. Foundation, Inc. v. Commissioner
United States Tax Court
Petitioner, a private foundation, incurred expenses attributable in part to its investment activities and in part to its making distributions to public charitable, educational, and scientific organizations. Held, only the investment-related expenses are deductible in calculating net investment income under sec. 4940, I.R.C. 1954.
1Opinion of the Court
Julia R. & Estelle L. Foundation, Incorporated, Petitioner v. Commissioner of Internal Revenue, Respondent
Julia R. & Estelle L. Foundation, Inc. v. Commissioner
Docket No. 6263-76
United States Tax Court
70 T.C. 1; 1978 U.S. Tax Ct. LEXIS 141;
April 5, 1978, Filed
Decision will be entered for the respondent.
Petitioner, a private foundation, incurred expenses attributable in part to its investment activities and in part to its making distributions to public charitable, educational, and scientific organizations. Held, only the investment-related expenses are deductible in calculating net investment…
2Cases cited18 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Bingler v. JohnsonSupreme Court of the United States · 1969
- United States v. GilmoreSupreme Court of the United States · 1963
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- Helvering v. Stockholms Enskilda BankSupreme Court of the United States · 1934
13 more not listed; retrieve them via the Exa API.