Ferguson v. Commissioner
United States Tax Court
Held: Ps donated to various charitable organizations (the Charities) appreciated stock in C1. Prior to the gifts, C1 and C2 entered into a merger agreement, C2 made a tender offer for the shares of C1, and shares of C1 sufficient to approve the merger were tendered or guaranteed. The Charities subsequently sold the stock of C1 received from Ps pursuant to the tender offer.
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Held: Ps donated to various charitable organizations (the Charities) appreciated stock in C1. Prior to the gifts, C1 and C2 entered into a merger agreement, C2 made a tender offer for the shares of C1, and shares of C1 sufficient to approve the merger were tendered or guaranteed. The Charities subsequently sold the stock of C1 received from Ps pursuant to the tender offer. Ps are taxable on the gain in the stock transferred to the Charities under the anticipatory assignment of income doctrine.
1Opinion of the Court
MICHAEL FERGUSON AND VALENE FERGUSON, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent; ROGER N. FERGUSON AND SYBIL FERGUSON, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Ferguson v. Commissioner
Docket Nos. 21808-93, 18250-94
United States Tax Court
108 T.C. 244; 1997 U.S. Tax Ct. LEXIS 14; 108 T.C. No. 14;
April 28, 1997, Filed
Decisions will be entered under Rule 155.
Held: Ps donated to various charitable organizations (the Charities) appreciated stock in C1. Prior to the gifts, C1 and C2 entered into a merger agreement, C2 made a tender offer for the shares of C1, and…
2Cases cited19 opinions
- Lucas v. EarlSupreme Court of the United States · 1930
- Harrison v. SchaffnerSupreme Court of the United States · 1941
- United States v. Cumberland Public Service Co.Supreme Court of the United States · 1950
- Leonard Greene and Joyce Greene v. United StatesCourt of Appeals for the Second Circuit · 1994
- Harold Dejong and Marjorie J. Dejong v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1962
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