Heminway v. Commissioner
United States Tax Court
Held, petitioner not taxable on dividends received by him and paid over to his sister pursuant to a stock purchase agreement whereby she retained a life interest in such dividends.
1Opinion of the Court
Train, Judge:
Respondent determined a deficiency in petitioners’ income tax for 1959 in the amount of $7,810.16.
The only issue raised by the pleadings is whether petitioners must include in, and then not deduct from, gross income the amount of dividends received during 1959 and paid over to his sister pursuant to an agreement with her.
FINDINGS OF FACT
Many of the facts have been stipulated and the stipulation of facts, together with the exhibits attached thereto, is incorporated herein by this reference.
Petitioners reside in Rye, N.Y. They filed a timely joint Federal income tax return for 1959…
2Cases cited16 opinions
- Lucas v. EarlSupreme Court of the United States · 1930
- Helvering v. HorstSupreme Court of the United States · 1940
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Helvering v. EubankSupreme Court of the United States · 1941
- Bettendorf v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1931
11 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Lazarus v. CommissionerUnited States Tax Court · 1972
- Artnell Co. v. CommissionerUnited States Tax Court · 1967
- Olin Bryant and Vanell Bryant v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1968
- Bryant v. CommissionerUnited States Tax Court · 1966
- Principal Life Insurance Company and Subsidiaries v. United StatesUnited States Court of Federal Claims · 2014
15 more not listed; retrieve them via the Exa API.