Oswald v. Commissioner
United States Tax Court
Held, the Commissioner's determination that $ 2,918.17, which petitioners received in 1950 from the Alien Property Custodian as royalty income from property owned by petitioners should be allocated to the years 1945, 1946, and 1947, the years in which it was earned and received by the Alien Property Custodian, is taxable to the petitioners in those years, is approved.
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Held, the Commissioner's determination that $ 2,918.17, which petitioners received in 1950 from the Alien Property Custodian as royalty income from property owned by petitioners should be allocated to the years 1945, 1946, and 1947, the years in which it was earned and received by the Alien Property Custodian, is taxable to the petitioners in those years, is approved. Petitioners, who were on the cash basis, had returned the income for tax in 1950 and contend their method was correct because the amount was actually received in that year and was not constructively received in the years to…
1Opinion of the Court
Richard Oswald and Katharina Oswald, Petitioners, v. Commissioner of Internal Revenue, Respondent
Oswald v. Commissioner
Docket No. 53164
United States Tax Court
24 T.C. 1117; 1955 U.S. Tax Ct. LEXIS 91;
September 28, 1955, Filed
Decision will be entered for the respondent.
Held, the Commissioner's determination that $ 2,918.17, which petitioners received in 1950 from the Alien Property Custodian as royalty income from property owned by petitioners should be allocated to the years 1945, 1946, and 1947, the years in which it was earned and received by the Alien Property Custodian, is taxable to the…
2Cases cited2 opinions
- Kahle v. CommissionerCourt of Appeals for the Eighth Circuit · 1930
- Oswald v. CommissionerUnited States Tax Court · 1955