Chapin v. Collard

189 P.2d 642 (1948)

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Nature of the Case

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Facts

Assets received by the trustees included two apartment houses, two commercial buildings, and several other buildings. The trustees requested authority to deduct reasonable depreciation on these buildings from gross income before arriving at net distributable income. The trial court decreed that depreciation was not authorized by the will or by law and directed that amounts previously withheld be paid over to the income beneficiary. This appeal resulted.