Internal Revenue Service
Revenue Ruling

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 Rev. Rul. 55-92

1955-1 C.B. 390

Sec. 641

Full Text

Rev. Rul. 55-92

The terms of a will provide for a trust of the residue of the estate, the income to be paid to the testator's wife and daughter during their lives in the discretion of the trustees. However, the trustee have the power at any time to terminate the trust and pay over and deliver the whole of the income from or corpus of the trust estate within 5 years to certain designated charitable organizations in such proportion as the trustees in their uncontrolled judgment and discretion may determine. Held , that a donation to charity out of the gross income of the trust prior to a decision of the trustees to terminate the trust would not be pursuant to the terms of the will creating the trust. Accordingly, the trust estate would not be entitled to the charitable deduction authorized by section 162(a) of the Internal Revenue Code of 1939