When a trust terminates, there are, in most instances, terminating commissions that are charged by the fiduciary.

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The allocation of such expenses with respect to character of the income has spawned litigation as to the proper allocation base.

Read the following cases and prepare a brief written summary of the allowable allocation method for terminating commissions.

a. CL. Whittemore, Jr. v. U.S., 67-2 ustc 49670, 383 K2d 824 (CA-8 1967).

b. A.J. Fabens, 75-2 ustc 99572, 519 F2d 1310 (CA-1 1975).

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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Question Posted: Feb 27, 2024 03:05 AM

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When a trust terminates, there are, in most instances, terminating commissions that are charged by the fiduciary.

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a CL Whittemore Jr v US 672 ustc 49670 383 F2d 824 CA8 1967 In this case CL Whittemore Jr challenged ...View the full answer

CCH Federal Taxation Basic Principles 2020

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