Rorimer v. Commissioner
United States Board of Tax Appeals
Held, that the redemption of certain stock in question was not made at such time and in such manner as to make it, in whole or in part, essentially equivalent to the distribution of a taxable dividend.
1Opinion of the Court
*877OPINION.
Van Fossan:
The issue is whether or not the amount of $14,644 received by the petitioner upon the redemption in 1927 of 144-64/100 shares of the preferred stock of the Rorimer-Brooks Studios Company, which were issued to him as stock dividends in 1917 and 1920, is taxable as income under the provisions of section 201 (g) of the Revenue Act of 1926.
The petitioner contends that as a result of the redemption he realized a gain of $4,205.70 which is taxable as a capital gain for the reason that the stock was held by him for more than two years. The parties have stipulated to the effect…
2Cited by6 opinions
- Curlee v. CommissionerUnited States Board of Tax Appeals · 1933
- Straub v. CommissionerUnited States Board of Tax Appeals · 1933
- Connelly v. CommissionerUnited States Board of Tax Appeals · 1934
- Horrmann v. CommissionerUnited States Board of Tax Appeals · 1936
- Natwick v. CommissionerUnited States Board of Tax Appeals · 1937
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