-3- of JREP Trust.2 PERJ Trust was the sole beneficiary of CSM Trust. During 1997 and 1998, PERJ Trust was the sole beneficiary of JREP Trust. The address of each of the trusts was the same as the address of petitioners’ principal residence. On January 1, 1992, petitioners transferred a parking lot sweeping business to CSM Trust. Before this transfer, Mr. Nichols had operated the business as a sole proprietorship under the name “Clean Sweep Maintenance”. Petitioners then transferred their principal residence to PERJ Trust. Petitioners transferred the equipment of the sweeping business to JREP Trust. JREP Trust leased the equipment of the sweeping business to CSM Trust. On October 13, 1995, petitioners signed and notarized a “Certification of Revocable Living Trust and Loan Agreement”. In the certification, petitioners stated that they are the trustors 2 It is not clear from the record who were the trustees of any of the trusts during the relevant years. James A. Nichols, petitioners’ son, filed 1997 and 1998 Federal income tax returns for all three trusts in his capacity as trustee. In the case at hand, Robert Hogue (Mr. Hogue) cosigned with petitioners the stipulation of facts as a trustee of JREP and PERJ Trusts. In addition, Mr. Hogue filed petitions with the Court on behalf of these trusts. See CSM Trust v. Commissioner, docket No. 9796- 01L; JREP Trust v. Commissioner, docket No. 9795-01L; PERJ Trust v. Commissioner, docket No. 9794-01L; PERJ Trust v. Commissioner, docket No. 6727-01; JREP Trust v. Commissioner, docket No. 6726- 01. Because of Mr. Hogue’s failure to establish his capacity as a trustee, the Court dismissed those cases on the ground that they were not filed by a proper party.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011