McDonald v. Commissioner
United States Board of Tax Appeals
An agreement by the petitioner to pay his wife a sum of money in full settlement of property rights arising out of the marriage relation, providing for payment in part out of the petitioner's share, as beneficiary, of future income of an estate, held not to constitute an assignment of part of the petitioner's right to the income, but a mere agreement to pay out of income which first became income of the petitioner; and amounts paid by the trustees to his wife, pursuant to…
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An agreement by the petitioner to pay his wife a sum of money in full settlement of property rights arising out of the marriage relation, providing for payment in part out of the petitioner's share, as beneficiary, of future income of an estate, held not to constitute an assignment of part of the petitioner's right to the income, but a mere agreement to pay out of income which first became income of the petitioner; and amounts paid by the trustees to his wife, pursuant to the agreement, were properly included in the income of the petitioner.
1Opinion of the Court
JAMES MCDONALD, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
McDonald v. Commissioner
Docket No. 52329.
United States Board of Tax Appeals
28 B.T.A. 1234; 1933 BTA LEXIS 1041;
August 22, 1933, Promulgated
An agreement by the petitioner to pay his wife a sum of money in full settlement of property rights arising out of the marriage relation, providing for payment in part out of the petitioner's share, as beneficiary, of future income of an estate, held not to constitute an assignment of part of the petitioner's right to the income, but a mere agreement to pay out of income which…
2Cases cited9 opinions
- Seatree v. CommissionerUnited States Board of Tax Appeals · 1932
- Mitchel v. CommissionerUnited States Board of Tax Appeals · 1924
- Lansill v. CommissionerUnited States Board of Tax Appeals · 1929
- Lisner v. HughesCourt of Appeals for the D.C. Circuit · 1919
- BLANEY v. COMMISSIONERUnited States Board of Tax Appeals · 1928
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