Fickert v. Commissioner
United States Tax Court
1. Trusts -- Income -- Distributed Currently -- Distributive Share of Partnership Income Not Actually Received by Trust -- Section 162 (b). -- Beneficiaries held not taxable on that part of a testamentary trust's distributive share of partnership income not distributed to trust where beneficiaries had no present, enforceable right under the will to the income in question. 2. Trusts -- Income -- Distributed Currently -- Bequests Paid by Trustee Out of Trust Income -- Section…
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1. Trusts -- Income -- Distributed Currently -- Distributive Share of Partnership Income Not Actually Received by Trust -- Section 162 (b). -- Beneficiaries held not taxable on that part of a testamentary trust's distributive share of partnership income not distributed to trust where beneficiaries had no present, enforceable right under the will to the income in question. 2. Trusts -- Income -- Distributed Currently -- Bequests Paid by Trustee Out of Trust Income -- Section 162 (b). -- Bequests to old employees were properly paid from a trust's share of partnership income under the will, and…
1Opinion of the Court
OPINION.
Murdock, Judge:
The Commissioner determined deficiencies in income and victory tax as follows: J
19iS 19U
Ethel Florence Holmshaw Fickert- $532.10 $712.18
Katharine Holmshaw Casey--- 1,259. 50 713.72
The two petitioners and their brother are equal life beneficiaries of a trust created under their father’s will. The trust was an equal partner with the petitioners’ mother in the operation of an automobile supply and accessory business which had been operated by the father and in which the mother had a one-half interest under the community property laws of Nevada. The trust, under section…
2Cases cited3 opinions
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Heiner v. MellonSupreme Court of the United States · 1938
- Lewis v. CommissionerUnited States Tax Court · 1943
3Cited by8 opinions
- Stern v. CommissionerUnited States Tax Court · 1950
- Hill v. CommissionerUnited States Tax Court · 1955
- Eisenmann v. CommissionerUnited States Tax Court · 1952
- Eisenmann v. CommissionerUnited States Tax Court · 1952
- Eisenmann v. CommissionerUnited States Tax Court · 1952
3 more not listed; retrieve them via the Exa API.