Brinckerhoff v. Commissioner
United States Tax Court
A testatrix directed her executor to sell certain real estate and distribute the proceeds among the four taxpayers as legatees. After holding the real estate for several years, the executor organized a corporation, to which he transferred the real estate, and he had the corporation issue all its shares to the legatees. In 1941 the corporation conveyed the land to them as a liquidating dividend.
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A testatrix directed her executor to sell certain real estate and distribute the proceeds among the four taxpayers as legatees. After holding the real estate for several years, the executor organized a corporation, to which he transferred the real estate, and he had the corporation issue all its shares to the legatees. In 1941 the corporation conveyed the land to them as a liquidating dividend. The value of the real estate at decedent's death was less than its value at the time of transfer to the corporation. Held: (1) Under New York law title to the real estate was vested in the executor and…
1Opinion of the Court
OPINION.
Johnson, Judge:
This proceeding was submitted on a stipulation, which the Court adopts as its findings of fact and which, in so far as material to the issue, discloses that:
Petitioners John H. Brinckerhoff and wife, Melba Brinckerhoff, are residents of Jamaica, New York; John Stephan and wife, C. Eleanor B. Stephan, are residents of Westbury, New York; Beatrice Clary Davids and George B. Clary reside at Cutchogue and Baldwin, New York, respectively. All filed their income tax returns for 1941 with the collector of internal revenue for the first district of New York.
Petitioners John H.…
2Cases cited7 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Anderson v. WilsonSupreme Court of the United States · 1933
- Schenck v. . BarnesNew York Court of Appeals · 1898
- Delafield v. . BarlowNew York Court of Appeals · 1887
- Salisbury v. . SladeNew York Court of Appeals · 1899
2 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- McAlister v. CommissionerUnited States Tax Court · 1989
- Johnson v. CommissionerUnited States Tax Court · 1962
- Hard v. CommissionerUnited States Tax Court · 1947
- Howard v. CommissionerUnited States Tax Court · 1955
- Brinckerhoff v. CommissionerUnited States Tax Court · 1947
3 more not listed; retrieve them via the Exa API.