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STANTON v. COMMISSIONER

Docket Nos. 18215, 18246.

14 T.C. 217 (1950)

LYMAN A. STANTON AND BERTHA W. STANTON, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. ESTATE OF LOUIS F. SPRINGER, DECEASED, MARY E. SPRINGER, EXECUTRIX, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated February 14, 1950.

Attorney(s) appearing for the Case

L. P. Mattingly, Esq., and Leo W. Crown, Esq., for the petitioners.

William Schwerdtfeger, Esq., for the respondent.

These cases, consolidated for trial and opinion, involve deficiencies in individual income tax for the calendar year 1944 in the following amounts: Docket No. 18215, $52,863.24; and Docket No. 18246, $46,228.13.

The sole issue presented is whether the income realized in 1944 from partnership interests transferred in that year by Lyman A. Stanton and Louis F. Springer, deceased, to trusts created by them was taxable to the petitioners or to the trusts and the beneficiaries...

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