Myers v. Commissioner
United States Board of Tax Appeals
Petitioner claimed title to certain corporate stock and in 1928 sold the stock as his own. The consideration was paid to a trustee. A portion of the purchase price was delivered to petitioner by the trustee. The remainder was held by the trustee to protect the buyer against defects in petitioner's title. Held to constitute receipt by petitioner of entire amount of consideration in 1928.
1Opinion of the Court
SCOTT P. MYERS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Myers v. Commissioner
Docket No. 54747.
United States Board of Tax Appeals
30 B.T.A. 44; 1934 BTA LEXIS 1384;
March 8, 1934, Promulgated
Petitioner claimed title to certain corporate stock and in 1928 sold the stock as his own. The consideration was paid to a trustee. A portion of the purchase price was delivered to petitioner by the trustee. The remainder was held by the trustee to protect the buyer against defects in petitioner's title. Held to constitute receipt by petitioner of entire amount of consideration in 1928.
Cla…
2Cases cited1 opinion
- Myers v. CommissionerUnited States Board of Tax Appeals · 1934