Saltonstall v. Hassett

32 F. Supp. 583, 24 A.F.T.R. (P-H) 752, 1940 U.S. Dist. LEXIS 3148
CourtDistrict Court, D. Massachusetts
DecidedApril 10, 1940
DocketNos. 7235, 7236
StatusPublished

This text of 32 F. Supp. 583 (Saltonstall v. Hassett) is published on Counsel Stack Legal Research, covering District Court, D. Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Saltonstall v. Hassett, 32 F. Supp. 583, 24 A.F.T.R. (P-H) 752, 1940 U.S. Dist. LEXIS 3148 (D. Mass. 1940).

Opinion

FORD, District Judge.

These are suits in which the plaintiff seeks recovery of income taxes for the year 1932 which were paid to the defendants-Collectors. The plaintiff seeks to recover in No. 7235 the sum of $1,693.63, with interest from the date of payment. Recovery for the sum of $20,569.52, with interest from varying dates of payment, is sought in No. 7236. The two cases involve the same facts, were consolidated for trial, and are treated as one in this opinion.

The facts, in part stipulated, are found to be as follows:

The plaintiff was an income beneficiary for life by two trusts created by her father, Peter C. Brooks. The first was a “testamentary trust” created under his will executed December 18, 1908 and duly probated on March 8, 1920. The second was an “inter vivos trust” created by an instrument dated May 15, 1917. One-half of the net income of the “testamentary trust,” but not exceeding $40,000, was to be set aside for the benefit of the plaintiff’s brother, to wit, Lawrence Brooks, the remainder to be paid to the plaintiff. As to the “inter vivos trust,” so much of one-half of the net annual income as might be necessary to bring up the amount set aside under the will fo.r Lawrence Brooks to $40,000 in any year was set aside for his benefit, and the balance was payable to the plaintiff.' Lawrence Brooks was living in the calendar year 1932.

The trustees of the “testamentary trust” filed in March, 1933, a fiduciary return of income for 1932 (form 1041) in which was reported a net taxable income of $81,997.50 and a non-taxable income of $18,648.13 making an aggregate of $100,645.63. This return disclosed that the plaintiff’s proportionate share of such taxable income was $49,408.90 (dividends $6,440.77, other income $42,968.13). It was stipulated that the trustees made payments to the plaintiff on account of the income of this trust in the sum of $41,413.11 and these payments were included in the trustees’ accounts for the year filed and allowed by the Probate Court for Middlesex County, Massachusetts.

Upon an audit of the return, the correct income of said trust, with which this case is concerned, was determined to be $18,-648.13 non-taxable income and $83,351.81 taxable income (dividends $10,688.90, other income $72,662.91), making a total net income of $101,999.94. It was further determined that the plaintiff’s share of this income under the terms of the trust was 60.8824 per cent and that such percentage of the taxable income determined, i. e., $83,351.81, should be included in her net income, namely, $50,746.59 (dividends $6,-507.66, other income $44,238.93).

There was also filed in March, 1933, by the trustees of the “inter vivos trust” a similar return for 1932 and a net taxable income was disclosed amounting to $8,-029.70. This return further disclosed that the plaintiff’s proportionate share of such taxable income was $7,638.83. During the year 1932 the trustees of this trust actually paid to the plaintiff $55,000. It was determined upon audit that the plaintiff’s share of the income reported distributable [585]*585from this trust and upon which she paid tax was $9,427.53.

The plaintiff filed her income tax return for 1932 in March, 1933, and .reported a total income in the amount of $220,975.84, a net income of $175,279.33, and a tax liability of $64,890.26. Included in her net income was the sum of $49,408.90 (dividends $6,440.77, other income $42,968.13) which was reported as her share of the income of the “testamentary trust” above mentioned. In this return the taxpayer also reported her share of the “inter vivos trust” as $7,638.83 (later corrected to $9,427.53).

The Commissioner caused an income tax return (form 1040) to be filed in behalf of the “inter vivos trust” for the year 1932 in which there was included in taxable income $43,644.11 of the trust’s 1932 income which the trustees claimed had been withheld from distribution to beneficiaries for the payment of real estate taxes in Chicago, Illinois. The trustees, in behalf of the trust as a taxable entity, were assessed and paid income taxes upon this amount. This tax was considerably less than what the plaintiff would have been compelled to pay had this amount been reported as distributable to her as beneficiary because of the application of surtax rates.

No income tax return for 1932 (form 1040) has been filed by or on behalf of the “testamentary trust” and the trustees have not, as a taxable entity, paid any income taxes for 1932.

The books of the trustees were kept and all returns for tax purposes filed by them and the plaintiff, including those for 1932, upon the “cash receipts and disbursements” basis of accounting. It was further stipulated that the trustees did not seek permission at any time from the Commissioner to change the basis of their returns to an “accrual” basis; that no amended fiduciary returns have been filed by the trustees and nothing has been presented in the case to indicate they considered that the returns they filed in 1933 were incorrect. No demand has ever been made on the trustees of either of these trusts for payment to the plaintiff of any of the income for 1932 which she claims was not distributed. Each of the trusts, of which the plaintiff was an income beneficiary, owned real estate in Chicago, and much of the income was derived from this. This real estate was subject to local taxes for the years 1931 and 1932. However, because of local conditions, no taxes were assessed for 1931 and 1932 until December 31, 1932. No taxes on any of the real estate owned by either of the trusts were paid for the years 1931 or 1932 in the calendar year of 1932. According to the books of the trusts, on December 31, 1931, all of the 1931 net income to that date had been distributed to beneficiaries.

It appeared that $26,465.01 of the “testamentary trust’s” 1931 net income which had been charged against income was found to have been so charged incorrectly. It should have been charged to principal. This amount, it was contended by the plaintiff, had been paid by the trustees in 1931 for a capital expenditure, i. e., antecedent taxes on a building in Chicago under a net lease which had been repossessed in that year. This error, however, was properly corrected by transferring the $26,465.01 charge from income to principal and the correcting entry made on the books was, “The above payments were made in 1931 and charged against income in that year,” making it appear that this amount was actually paid the beneficiaries in 1931. However, in order to dispose of the issues in this case the discussion proceeds on the assumption it was not paid to the beneficiaries but was withheld from distribution and actually paid for real estate taxes in 1931. The date of this entry was December 31, 1932. Thereafter, an adjustment of the plaintiff’s 1931 income tax liability was made by the Commissioner in accordance with the adjustment made in the trustees’ books and the taxpayer paid an additional tax on her proportionate share of $26,-465.01, to wit, $25,612.07.

It was stipulated that the same managing trustee of both trusts on December 30 or 31, 1932, determined to make no further distributions of income of any year “on hand” in either trust, but to have all such income held by the real estate agents of the trustees in Chicago so as to be available for the payment of 1931-1932 real estate taxes. As a result of this decision the plaintiff contends that $45,717.89 (corrected figure as result of audit, $47,072.20) of the income “on hand” from the “testamentary trust” was not remitted .to the plaintiff or other beneficiaries.

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Bluebook (online)
32 F. Supp. 583, 24 A.F.T.R. (P-H) 752, 1940 U.S. Dist. LEXIS 3148, Counsel Stack Legal Research, https://law.counselstack.com/opinion/saltonstall-v-hassett-mad-1940.