The respondent determined deficiencies of $14,054 and $10,588.60 in income tax for the years 1934 and 1935, respectively. The only question for determination is whether petitioner was taxable in 1934 and in the first seven months of 1935 on the entire net income of three trusts which he created for the benefit of his three children. Other adjustments which respondent has made in the income reported by petitioner in his income tax returns for the years 1934 and 1935 are not...
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