WADE v. COMMISSIONER

Docket No. 5206.

5 T.C. 394 (1945)

ELIZABETH F. WADE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated July 12, 1945.


Attorney(s) appearing for the Case

Carter T. Louthan, Esq., for the petitioner.

Clay C. Holmes, Esq., for the respondent.


OPINION.

SMITH, Judge:

This proceeding is for the redetermination of a deficiency in income tax for the calendar year 1940 in the amount of $21,654.14. Certain of the issues have been settled by stipulations of the parties. The sole remaining issue is whether the respondent has properly included in petitioner's income, as distributable income of a trust of which she was life beneficiary, a portion of the income of the trust for the taxable year which...

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