Cartinhour v. Commissioner
United States Tax Court
A husband and wife joined in the creation of a trust for the benefit of their children, the husband contributing non-income-producing insurance policies upon his life and the wife contributing income-producing properties. The income, though not specifically required by the terms of the trust to be so used, was applied to the payment of premiums upon the insurance policies.
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A husband and wife joined in the creation of a trust for the benefit of their children, the husband contributing non-income-producing insurance policies upon his life and the wife contributing income-producing properties. The income, though not specifically required by the terms of the trust to be so used, was applied to the payment of premiums upon the insurance policies. The Commissioner included the income of the trust in the gross income of each petitioner (husband and wife). Held: (1) The income is not taxable to the husband under section 22 (a), I. R. C., or under Helvering v. Clifford,…
1Opinion of the Court
OPINION.
Mello it, Judge:
Respondent’s first contention is that Cartinhour is taxable upon the income of the trust under the provisions of section 22 (a) of the Internal Revenue Code for the reason that when his wife transferred the 660 shares of insurance company stock to him and the bank, as trustees, under the trust agreement of August 15,1935, she, in effect, thereby made a gift of such shares to him individually, thus constituting him, in substance, the owner thereof. He cites and relies upon Jergens v. Commissioner, 136 Fed. (2d) 497; certiorari denied, 320 U. S. 784; H. S. Richardson, 42…
2Cases cited16 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Hormel v. HelveringSupreme Court of the United States · 1941
- Helvering v. StuartSupreme Court of the United States · 1942
- Freuler v. HelveringSupreme Court of the United States · 1934
- Public Service Commission v. Wisconsin Telephone Co.Supreme Court of the United States · 1933
11 more not listed; retrieve them via the Exa API.
3Cited by41 opinions
- Banfield v. CommissionerUnited States Tax Court · 1944
- Cherry v. CommissionerUnited States Tax Court · 1944
- Wheelock v. CommissionerUnited States Tax Court · 1946
- Leonard v. CommissionerUnited States Tax Court · 1945
- Small v. CommissionerUnited States Tax Court · 1944
36 more not listed; retrieve them via the Exa API.