Mallinckrodt v. Commissioner
United States Tax Court
1. The petitioner, who was cotrustee of a trust created by his father, was upon his request entitled to all of the income of the trust, except $ 10,000 payable annually to his wife. In addition, he had broad powers of management as cotrustee, and with the consent of his cotrustee had the right to terminate the trust by taking the entire corpus. In addition, he could dispose of the trust corpus by will to anyone and in any manner he desired.
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1. The petitioner, who was cotrustee of a trust created by his father, was upon his request entitled to all of the income of the trust, except $ 10,000 payable annually to his wife. In addition, he had broad powers of management as cotrustee, and with the consent of his cotrustee had the right to terminate the trust by taking the entire corpus. In addition, he could dispose of the trust corpus by will to anyone and in any manner he desired. No request was made by petitioner for payment of the trust income here in question, and, pursuant to the terms of the trust instrument, said income was at…
1Opinion of the Court
Turner, Judge:
The respondent determined deficiencies in the petitioner’s income tax for the years 1934, 1935, 1936, and 1937 in the respective amounts of $32,056.96, $204,351.05, $63,200.73, and $82,548.93. Tbe issues are (1) whether certain undistributed income received in 1934, 1935, 1936, and 193? by a trust created by petitioner’s father and known as Trust No. 3660 was taxable to petitioner in the respective years; (2) whether certain acts of the petitioner in 1935 resulted in the revocation in that year of a charitable trust created by him in 1921 and in the realization of taxable gain…
2Cases cited15 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Lucas v. EarlSupreme Court of the United States · 1930
- Helvering v. HorstSupreme Court of the United States · 1940
- Corliss v. BowersSupreme Court of the United States · 1930
- Morgan v. CommissionerSupreme Court of the United States · 1940
10 more not listed; retrieve them via the Exa API.
3Cited by90 opinions
- Danz v. CommissionerUnited States Tax Court · 1952
- Mallinckrodt v. NunanCourt of Appeals for the Eighth Circuit · 1945
- Wiesler v. CommissionerUnited States Tax Court · 1946
- Coke v. CommissionerUnited States Tax Court · 1951
- Stix v. CommissionerUnited States Tax Court · 1945
85 more not listed; retrieve them via the Exa API.