Newman v. Commissioner
United States Tax Court
1. Held, neither the oral trust nor the written trust here involved was "expressly made irrevocable by the instrument creating the trust * * *" as provided in section 2280, Civil Code of California. 2. Held, transfer of trust assets on May 2, 1946, to guardianship estate of minor beneficiary constituted a taxable gift.
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1. Held, neither the oral trust nor the written trust here involved was "expressly made irrevocable by the instrument creating the trust * * *" as provided in section 2280, Civil Code of California. 2. Held, transfer of trust assets on May 2, 1946, to guardianship estate of minor beneficiary constituted a taxable gift. Harris v. Commissioner, 340 U.S. 106, distinguished. 3. The value of the gift consummated May 2, 1946, held, not to include a certain item in the amount of $ 64,035.05, the existence of which is the subject matter of a separate income tax proceeding by the same taxpayer in…
1Opinion of the Court
opinion.
Van Fossan, Judge:
The parties to this proceeding involving gift taxes for 1946 agree that the transfer by petitioner of the property in controversy for the benefit of her minor daughter .constituted a taxable gift within the purview of sections 1000 (a) and 1002 of the Internal Revenue Code.1 They disagree as to the year, 1943 or 1946, in which the gift was completed. Respondent has determined that the taxable transfer took place in 1946. The pertinent facts are set forth above.
It is respondent’s contention that the 1943 trust is not expressly made irrevocable by the declaration of…
2Cases cited9 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Harris v. CommissionerSupreme Court of the United States · 1950
- Saulsbury v. United StatesCourt of Appeals for the Fifth Circuit · 1952
- Gaylord v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1946
- Gaylord v. CommissionerUnited States Tax Court · 1944
4 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Fono v. CommissionerUnited States Tax Court · 1982
- Flitcroft v. CommissionerUnited States Tax Court · 1962
- Estate of Sweet v. CommissionerUnited States Tax Court · 1955
- Bosch v. CommissionerUnited States Tax Court · 1964
- Estate of Davis v. CommissionerUnited States Tax Court · 1968
16 more not listed; retrieve them via the Exa API.