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regardless of whether the undistributed net income was part of
the corpus. Petitioners have not introduced evidence indicating
that the trust’s donation of the conservation easements came from
the undistributed net income belonging to petitioner. We also
note that petitioners have not offered any explanation how $2.2
million in undistributed net income relates to the $5.6 million
charitable contribution the trust made, and we decline to
speculate.
C. Failure To Prove That the Charitable Contribution Was
Made From the Income Portion
Although we treat petitioner as the sole owner of the income
portion of the trust, petitioners may not deduct the value of the
conservation easements the trust contributed to charity because
they have not proven that the trust’s contribution was from the
income portion. In general, status as owner of one portion of a
trust does not permit a person to include income or take
deductions not attributable to that portion. See sec. 1.671-
3(b), Income Tax Regs. Petitioners have failed to introduce any
evidence linking the $5,640,000 conservation easements to the
trust’s income.
Petitioners have introduced no evidence to prove that the
conservation easements transferred were part of the income
portion of the trust. Petitioner is entitled to take into
account only those items included in computing the income of a
current income beneficiary, and petitioner has failed to show
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