Booth Trust v. Commissioner
United States Tax Court
A trust instrument conveying oil and gas royalties and grantor's reversionary interest to a trustee for the benefit of grantor and his four children, created a single trust, not five separate trusts. Incorporation by reference of provisions of The Texas Trust Act into the trust instrument entitled the trustee to allocate all allowable depletion deductions to the trust and none to the beneficiaries.
1Opinion of the Court
Tom R. Booth Trust, First City National Bank of Houston, Trustee, Deed of Trust dated October 18, 1945, as amended v. Commissioner.
Booth Trust v. Commissioner
Docket No. 84580.
United States Tax Court
T.C. Memo 1963-265; 1963 Tax Ct. Memo LEXIS 78; 22 T.C.M. (CCH) 1337; T.C.M. (RIA) 63265; 20 Oil & Gas Rep. 1063;
September 27, 1963
A trust instrument conveying oil and gas royalties and grantor's reversionary interest to a trustee for the benefit of grantor and his four children, created a single trust, not five separate trusts.
Incorporation by reference of provisions of The Texas Trust Act into…
2Cases cited16 opinions
- United States v. Bank of New York & Trust Co.Supreme Court of the United States · 1936
- Huntington Nat. Bank v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1937
- John R. Upton, Anna L. S. Upton and Margaret St. Aubyn v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1960
- Lincoln Electric Co. Employees' Profit-Sharing Trust v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1951
- HELVERING, COMMR. OF INTERNAL REVENUE v. McILVAINE TR.Supreme Court of the United States · 1936
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