O'Brien v. Commissioner
United States Tax Court
Taxpayer was the executrix and residuary legatee of the will of her husband. One of the assets of his estate was a block of shares in a holding company which owned the stock of certain national banks. When the banks failed, the executrix took a deduction for worthlessness of the shares owned by the estate on her fiduciary return for 1933. The shareholders of the holding company were deemed liable for the assessment on the bank stock.
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Taxpayer was the executrix and residuary legatee of the will of her husband. One of the assets of his estate was a block of shares in a holding company which owned the stock of certain national banks. When the banks failed, the executrix took a deduction for worthlessness of the shares owned by the estate on her fiduciary return for 1933. The shareholders of the holding company were deemed liable for the assessment on the bank stock. The executrix paid the estate's proportionate part of such assessment and deducted such amount on her fiduciary return for 1935. The estate received a…
1Opinion of the Court
Louise Webber O'Brien, Petitioner, v. Commissioner of Internal Revenue, Respondent
O'Brien v. Commissioner
Docket No. 37346
United States Tax Court
22 T.C. 661; 1954 U.S. Tax Ct. LEXIS 164;
June 28, 1954, Filed. June 28, 1954, Filed
Decision will be entered under Rule 50.
Taxpayer was the executrix and residuary legatee of the will of her husband. One of the assets of his estate was a block of shares in a holding company which owned the stock of certain national banks. When the banks failed, the executrix took a deduction for worthlessness of the shares owned by the estate on her fiduciary return…
2Cases cited5 opinions
- Birmingham Terminal Co. v. CommissionerUnited States Tax Court · 1951
- Tuttle v. United StatesUnited States Court of Claims · 1951
- Murphy v. CommissionerUnited States Tax Court · 1954
- Rose v. CommissionerUnited States Tax Court · 1947
- O'Brien v. CommissionerUnited States Tax Court · 1954