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UNITED STATES V. BENEDICT, 338 U. S. 692 (1950)

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U.S. Supreme Court

United States v. Benedict, 338 U.S. 692 (1950)

United States v. Benedict

No. 45

Argued November 8, 1949

Decided February 13, 1950

338 U.S. 692


In 1944, trustees permanently set aside a charitable contribution from gains realized upon the disposition of capital assets held in the trust for more than six months. Pursuant to § 117(b) of the Internal Revenue Code, they treated only 50% of these capital gains as income in computing the income of the trust.

Held: under § 162(a), only 50% of the charitable contribution (the proportionate part attributable to the taxable part of the capital gains) could be deducted in computing the federal income tax of the trust. Pp. 338 U. S. 692-699.

112 Ct.Cl. 550, 81 F.Supp. 717, reversed.

The Court of Claims awarded respondents a judgment for a refund of income taxes. 112 Ct.Cl. 550, 81 F.Supp. 717. This Court granted certiorari. 336 U.S. 966. Reversed, p. 338 U. S. 699.

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