Morton v. Commissioner
United States Tax Court
Petitioner purchased an undivided one-third interest in a parcel of real estate. Although the original deed to petitioner described him "as Trustee," no trusts were then in existence and no beneficiaries were identified. He thereafter purported to establish three trusts for his minor children in each of which he recited that he transferred a sum of money to himself as trustee and that he had purchased, as trustee, a 4-percent interest in the property for that sum.
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Petitioner purchased an undivided one-third interest in a parcel of real estate. Although the original deed to petitioner described him "as Trustee," no trusts were then in existence and no beneficiaries were identified. He thereafter purported to establish three trusts for his minor children in each of which he recited that he transferred a sum of money to himself as trustee and that he had purchased, as trustee, a 4-percent interest in the property for that sum. Petitioner had not in fact transferred any such sum of money to himself as trustee, and no interests in the property were ever in…
1Opinion of the Court
The Commissioner determined deficiencies against Emil and Lottie Morton for tbe calendar years 1960, 1961, and 1962 in tbe amounts of $5,500.67, $621.33, and $24,559.76 respectively, and an addition to tax under section 6651(a) of $155.33 for tbe year 1961. The question for decision is whether tbe incomes and losses ascribed to three trusts established by Emil Morton should be attributed to him.
FINDINGS OP PACT
Certain facts and exhibits have been stipulated by the parties and as stipulated are incorporated herein.
Emil and Lottie Morton, husband and wife, residing at 5646 North Bay Road, Miami…
2Cases cited5 opinions
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Commissioner v. TowerSupreme Court of the United States · 1946
- National Licorice Co. v. National Labor Relations BoardSupreme Court of the United States · 1940
- Lusthaus v. CommissionerSupreme Court of the United States · 1946
- Wofford v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. WoffordCourt of Appeals for the Fifth Circuit · 1953
3Cited by7 opinions
- Krause v. CommissionerUnited States Tax Court · 1972
- Manuel v. CommissionerUnited States Tax Court · 1983
- Carriage Square, Inc. v. CommissionerUnited States Tax Court · 1977
- Carriage Square, Inc. v. CommissionerUnited States Tax Court · 1977
- Estate of Holdeen v. CommissionerUnited States Tax Court · 1975
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