Cushing v. Commissioner
United States Board of Tax Appeals
The income of a trust created by an individual in Massachusetts, the settlor's mother being a trustee upon whose direction the corpus could be transferred to the settlor, held, under Revenue Act of 1932, sections 166 and 167, taxable to the settlor because under the terms of the trust the mother was "a person not having a substantial adverse interest."
1Opinion of the Court
OPINION.
Sternhagen :
The Commissioner determined deficiencies in petitioner’s income tax of $1,761.04 for 1932 and $7,519.09 for 1933. Several adjustments were made in petitioner’s income, only one of which is assailed — the inclusion in her individual income of $18,252.72 for 1932 and $52,409.25 for 1933, which was the income of a trust which she had created in 1930. The facts are contained in a written stipulation.
Petitioner, a resident of Boston, Massachusetts, executed a trust instrument on January 8,1930, transferring to her mother and a trust company, as trustees, certain securities to…
2Cited by4 opinions
- Commissioner of Internal Revenue v. CaspersenCourt of Appeals for the Third Circuit · 1941
- Commissioner of Internal Revenue v. CaspersenCourt of Appeals for the Third Circuit · 1941
- Cushing v. CommissionerUnited States Board of Tax Appeals · 1938
- Scheuer v. CommissionerUnited States Tax Court · 1943