Childers v. Commissioner
United States Tax Court
1. Held, that by relinquishment of exclusive dominion and control and power of recapture for her own benefit and purposes, a donor, on January 10, 1936, made taxable gifts of the entire trust estate, including the shares given to the trust by two beneficiaries, and accumulated trust income. 2. Held, further, donor is not entitled to the benefits of section 501 (c) of the Revenue Act of 1932 as amended. 3. Held, further, the gifts made were gifts of future interests and donor…
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1. Held, that by relinquishment of exclusive dominion and control and power of recapture for her own benefit and purposes, a donor, on January 10, 1936, made taxable gifts of the entire trust estate, including the shares given to the trust by two beneficiaries, and accumulated trust income. 2. Held, further, donor is not entitled to the benefits of section 501 (c) of the Revenue Act of 1932 as amended. 3. Held, further, the gifts made were gifts of future interests and donor is not entitled to five exclusions of $ 5,000 each.
1Opinion of the Court
Estate of Ethel K. Childers, Robert L. Childers and George R. Blake, Executors, Petitioners, v. Commissioner of Internal Revenue, Respondent
Childers v. Commissioner
Docket No. 9175
United States Tax Court
10 T.C. 566; 1948 U.S. Tax Ct. LEXIS 226;
March 31, 1948, Promulgated
Decision will be entered under Rule 50.
1. Held, that by relinquishment of exclusive dominion and control and power of recapture for her own benefit and purposes, a donor, on January 10, 1936, made taxable gifts of the entire trust estate, including the shares given to the trust by two beneficiaries, and accumulated trust income.
2Cases cited13 opinions
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Smith v. ShaughnessySupreme Court of the United States · 1943
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Commissioner v. DisstonSupreme Court of the United States · 1945
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