FEDERAL TAXATION OF SETTLORS OF TRUSTS

Authors

Harry B. Sutter, Of the Chicago Bar.
Anderson A. Owen, Of the Chicago Bar

Abstract

In the Revenue Act of 1924 there simultaneously appeared three new provisions. By Section 219(g) the income of trusts revocable by the grantor, either alone or in conjunction with any person not a beneficiary, of the trust, was specifically required to be taxed to the grantor as his income. By Section 302(d) there was required to be included in the gross estate of a deceased grantor the value at his death of any property previously given by him in trust, where the enjoyment of such property remained subject to change through the exercise by the grantor, either alone or in conjunction with any other person, of the power to alter, amend or revoke. Section 319 imposed a gift tax (which remained in effect through 1924 and 1925) upon the transfer by gift of any property, directly or indirectly.

Recommended Citation

Harry B. Sutter & Anderson A. Owen, FEDERAL TAXATION OF SETTLORS OF TRUSTS, 33 Mich. L. Rev. 1169 (1935).
Available at: https://repository.law.umich.edu/mlr/vol33/iss8/3