Burdick v. Commissioner
United States Board of Tax Appeals
1. Where, after the death of the owner, stock is distributed by his executors to a trust created by his will, and thereafter, while the stock is held as part of the corpus of the trust, the trustees receive an extraordinary cash dividend, the portion of such dividend paid out of surplus of the corporation existing at the date of decedent's death is not a return of capital to the trust, but a dividend and income within the revenue acts; and its character as such, for Federal…
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1. Where, after the death of the owner, stock is distributed by his executors to a trust created by his will, and thereafter, while the stock is held as part of the corpus of the trust, the trustees receive an extraordinary cash dividend, the portion of such dividend paid out of surplus of the corporation existing at the date of decedent's death is not a return of capital to the trust, but a dividend and income within the revenue acts; and its character as such, for Federal tax purposes, is not affected by any rule of local law that portions of the dividend paid from existing surplus at the…
1Opinion of the Court
ELLA P. BURDICK, TRUSTEE, ESTATE OF JOEL W. BURDICK, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
THE UNION TRUST COMPANY OF PITTSBURGH, TRUSTEE, ESTATE OF JOEL W. BURDICK, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Burdick v. Commissioner
Docket Nos. 46322, 61009.
United States Board of Tax Appeals
29 B.T.A. 731; 1934 BTA LEXIS 1487;
January 11, 1934, Promulgated
1. Where, after the death of the owner, stock is distributed by his executors to a trust created by his will, and thereafter, while the stock is held as part of the corpus of the trust,…
2Cases cited10 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Lynch v. HornbySupreme Court of the United States · 1918
- Gibbons v. MahonSupreme Court of the United States · 1890
- Peabody v. EisnerSupreme Court of the United States · 1918
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