Rouverol v. Comm'r
United States Tax Court
Income from patents received in 1959 and 1960 held to be taxable as long-term capital gain from the sale or exchange of a capital asset under section 1235(a) of the Internal Revenue Code of 1954, rather than as ordinary income.
1Opinion of the Court
Arundell, Judge:
In these consolidated proceedings respondent determined deficiencies in income tax for the calendar years 1959 and 1960 of $571 and $694.55, respectively.
The only issue to be decided is whether certain amounts received by petitioners for the alleged transfer of patent rights are taxable as ordinary income or as long-term capital gains from the sale of capital assets.
findings of fact
The stipulated facts, together with the exhibits attached to the stipulation, are so found and are incorporated herein by this reference.
Petitioners are husband and wife and are residents of…
2Cases cited16 opinions
- Waterman v. MacKenzieSupreme Court of the United States · 1891
- Lusthaus v. CommissionerSupreme Court of the United States · 1946
- Myers v. Comm'rUnited States Tax Court · 1946
- Allen, Collector of Internal Revenue v. WernerCourt of Appeals for the Fifth Circuit · 1951
- United States v. Eben H. Carruthers and Nancy CarruthersCourt of Appeals for the Ninth Circuit · 1955
11 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- Bell Intercontinental Corporation v. The United StatesUnited States Court of Claims · 1967
- E. I. Du Pont De Nemours and Company v. United StatesCourt of Appeals for the Third Circuit · 1970
- Thomas L. Fawick and Marie Fawick v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1971
- Commercial Solvents Corp. v. CommissionerUnited States Tax Court · 1964
- Rodgers v. CommissionerUnited States Tax Court · 1969
19 more not listed; retrieve them via the Exa API.