The Commissioner determined deficiencies of $1,538.87, $1,942.69 and $3,848.64 in income taxes for 1938, 1939 and 1940, as the result of the inclusion in petitioner's gross income of income from property transferred by him in trust for his two children. All the facts are stipulated.
Findings of Fact
The petitioner is a resident of Glencoe, Illinois, and filed his income tax returns on the cash basis at Chicago. He has two children, born in 1930 and 1927...
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