Bridgeport-City Trust Co. v. Commissioner
United States Board of Tax Appeals
Under the terms of a testamentary trust the trustees were directed to pay from the income thereof to testator's wife, for life, annually, $50,000, and after accumulating from the excess income the sum of $50,000, which was to be added to the principal of the fund, to pay the excess income annually, over the amount directed to be paid to his wife, to his three children, share and share alike.
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Under the terms of a testamentary trust the trustees were directed to pay from the income thereof to testator's wife, for life, annually, $50,000, and after accumulating from the excess income the sum of $50,000, which was to be added to the principal of the fund, to pay the excess income annually, over the amount directed to be paid to his wife, to his three children, share and share alike. By another provision of the will, testator provided that it was his will that "the annuity provided for my wife in the fifth item of this will shall be paid to her out of the income of the trust property…
1Opinion of the Court
*1184OPINION.
Leech:
The question in this case is whether the petitioner, surviving trustee of the testamentary trust established by the will of I. DeVer Warner, is entitled to deduct that portion of the income of the trust which was distributed to Eva Follett' Warner, widow of testator, under the provisions of the will.
The provisions of the Revenue Acts of 1924 and 1926 here applicable are contained in section 219 and are identical. They are quoted in the margin.1
*1185Petitioner contends that under the will here involved the gift to the widow by item fifth of the will was a gift of income to be derived…
2Cases cited5 opinions
- Irwin v. GavitSupreme Court of the United States · 1925
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Burnet v. WhitehouseSupreme Court of the United States · 1931
- Travers v. ReinhardtSupreme Court of the United States · 1907
- Beebe v. United StatesSupreme Court of the United States · 1896
3Cited by4 opinions
- Bush v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1937
- Bridgeport-City Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1935
- Ink v. CommissionerUnited States Board of Tax Appeals · 1937
- Union Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1936