Buck v. Commissioner
United States Board of Tax Appeals
1. TRUST INCOME - TAXABILITY OF GRANTOR. - Income of a trust not taxable to the grantor under sections 22(a), 166, or 167 where he was not to receive the income, could not revoke the trust, and could not amend so as to receive income or principal but could amend to change beneficiaries and beneficiaries could revoke trust. 2. INCOME - INSURANCE INSTALLMENT. - Annual installment on a life insurance contract held exempt from tax under section 22(b)(1), Revenue Act of 1934.
1Opinion of the Court
ELLSWORTH B. BUCK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Buck v. Commissioner
Docket No. 93330.
United States Board of Tax Appeals
41 B.T.A. 99; 1940 BTA LEXIS 1234;
January 18, 1940, Promulgated
1. TRUST INCOME - TAXABILITY OF GRANTOR. - Income of a trust not taxable to the grantor under sections 22(a), 166, or 167 where he was not to receive the income, could not revoke the trust, and could not amend so as to receive income or principal but could amend to change beneficiaries and beneficiaries could revoke trust.
2. INCOME - INSURANCE INSTALLMENT. - Annual installment on a…
2Cases cited13 opinions
- Poe v. SeabornSupreme Court of the United States · 1930
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Porter v. CommissionerSupreme Court of the United States · 1933
- Downs v. CommissionerUnited States Board of Tax Appeals · 1937
- Dunning v. CommissionerUnited States Board of Tax Appeals · 1937
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