Commissioner v. Cora B. Igleheart Trust Estate

FITZHENRY, Circuit Judge.

This case comes before us on the petitions of the Commissioner and the trustee of the Cora B. Igleheart Trust Estate for the review of the decision of the United States Board of Tax Appeals.

The case was taken before the United States Board of Tax Appeals to get a re-determination of a deficiency of $12,245.88 in income tax determined against the estate for the year 1927 by the Commissioner of Internal Revenue. The sole point involved was the proper basis for computing the gain or loss resulting from the sale of 1,000 shares of certain stock.

On June 1, 1926, Addison W.…