Curlee v. Commissioner
United States Board of Tax Appeals
1. GAIN OR LOSS - BASIS. - The retroactive provision of section 204(a)(3) of the Revenue Act of 1926, which includes gifts effected by a transfer in trust subsequent to December 31, 1920, is not unconstitutional.
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1. GAIN OR LOSS - BASIS. - The retroactive provision of section 204(a)(3) of the Revenue Act of 1926, which includes gifts effected by a transfer in trust subsequent to December 31, 1920, is not unconstitutional. New York Trust Co., Trustee,27 B.T.A. 1127, followed. 2. Id. - Where a gift to beneficiaries was effected in 1922 by a transfer of stock to a trust, held, the basis for determining gain or loss on the sale of the stock by the trustee in 1926 is its cost to grantor, under provisions of section 204(a)(3), Revenue Act of 1926. New York Trust Co., Trustee,27 B.T.A. 1127, followed. 3. Id.…
1Opinion of the Court
SHELBY H. CURLEE, TRUSTEE, VIRGIL P. RANDOLPH TRUST, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Curlee v. Commissioner
Docket Nos. 48833, 54335.
United States Board of Tax Appeals
28 B.T.A. 773; 1933 BTA LEXIS 1074;
July 27, 1933, Promulgated
1. GAIN OR LOSS - BASIS. - The retroactive provision of section 204(a)(3) of the Revenue Act of 1926, which includes gifts effected by a transfer in trust subsequent to December 31, 1920, is not unconstitutional. New York Trust Co., Trustee,27 B.T.A. 1127, followed.
2. Id. - Where a gift to beneficiaries was effected in 1922 by a transfer of…
2Cases cited2 opinions
- Curlee v. CommissionerUnited States Board of Tax Appeals · 1933
- New York Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1933