Baldwin v. Commissioner
United States Board of Tax Appeals
Dividends on shares irrevocably transferred in trust for the payment of premiums on an insurance policy on the life of the settlor's husband are not taxable to the settlor. Lucy A. Blumenthal,30 B.T.A. 591.
1Opinion of the Court
OPINION.
Sternhagen :
The Commissioner determined a deficiency of $46.29 in petitioner’s individual income tax for 1933, all of which is the result of including in petitioner’s income $8,930.99 which was received by the Gail H. Baldwin Trust as dividends on corporate shares which were held by the trust. The explanation for the adjustment is stated in the deficiency notice as follows:
Dividends received by the Gail H. Baldwin Trust have been consistently held to be taxable to the grantor of the trust. Therefore, the dividend amounting to $8,930.99 has been eliminated from the taxable income of…
2Cited by1 opinion
- Baldwin v. CommissionerUnited States Board of Tax Appeals · 1937