Balzereit v. Commissioner
United States Board of Tax Appeals
Despite an affirmed decision of the Board holding that income of three Pennsylvania trusts for 1932 is currently distributable to the beneficiaries and therefore taxable to them, in the absence of collusion, nisi decrees of an Orphans' Court of Pennsylvania, having jurisdiction, deciding that income of such trusts for later years is not currently distributable, are final and binding upon the Board in its determination of whether such income for later years is currently…
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Despite an affirmed decision of the Board holding that income of three Pennsylvania trusts for 1932 is currently distributable to the beneficiaries and therefore taxable to them, in the absence of collusion, nisi decrees of an Orphans' Court of Pennsylvania, having jurisdiction, deciding that income of such trusts for later years is not currently distributable, are final and binding upon the Board in its determination of whether such income for later years is currently distributable and therefore taxable to the beneficiaries under section 162(b) of the Revenue Acts of 1934, 1936, and 1938.…
1Opinion of the Court
*960OPINION.
Leech :
The petitioners are the guardians of the estate of an incompetent who was beneficiary of three testamentary trusts. The respondent determined that the income of the trusts was currently distributable to the beneficiary under the terms of the trusts and so added such income to other income of the beneficiary under the substantially similar provisions of section 162 (b) of the Revenue Acts of 1934, 1936, and 1938.1 The petitioners contend the respondent erred in his *961determination that the income was currently distributable. Was such income currently distributable ? That is the…
2Cases cited4 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Freuler v. HelveringSupreme Court of the United States · 1934
- Bailey's EstateSupreme Court of Pennsylvania · 1927
- Partridge's EstateSupreme Court of Pennsylvania · 1913
3Cited by5 opinions
- Estate of Farish v. United StatesDistrict Court, S.D. Texas · 1964
- Balzereit v. CommissionerUnited States Board of Tax Appeals · 1942
- Clegg v. CommissionerUnited States Board of Tax Appeals · 1942
- Estate of William O. Burton v. CommissionerUnited States Tax Court · 1947
- Guitar Trust Estate v. CommissionerUnited States Tax Court · 1942