Fields v. Comm'r
United States Tax Court
1. The petitioner, a playwright, is the coauthor of the plays "My Sister Eileen" and "The Doughgirls," which were copyrighted in his name. With his coauthors, he transferred the exclusive worldwide motion picture rights to these plays to Columbia Pictures Corporation and Warner Brothers Pictures, Inc., respectively.
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1. The petitioner, a playwright, is the coauthor of the plays "My Sister Eileen" and "The Doughgirls," which were copyrighted in his name. With his coauthors, he transferred the exclusive worldwide motion picture rights to these plays to Columbia Pictures Corporation and Warner Brothers Pictures, Inc., respectively. Held, the proceeds from the sale of the movie rights to the plays are taxable to the petitioner as ordinary income in the years in which received under section 22 (a), rather than as capital gains under section 117 (j), because the movie rights were not property used in the trade…
1Opinion of the Court
OPINION.
Haeron, Judge'.
Issue 1. — The main issue in this proceeding is whether the sums received by the petitioner during 1942 and 1943 for the exclusive motion picture rights to his plays, “My Sister Eileen” and “The Doughgirls,” are taxable as long term capital gains under section 117 (j) of the Internal Bevenue Code,1 as contended by the petitioner, or whether they are taxable as ordinary income, as contended by the respondent.
The petitioner argues that the payments by the motion picture companies were made in exchange for his sale of a property interest in the copyrights of “My Sister…
2Cases cited28 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Corliss v. BowersSupreme Court of the United States · 1930
- Waterman v. MacKenzieSupreme Court of the United States · 1891
- Griffiths v. CommissionerSupreme Court of the United States · 1939
- Independent Wireless Telegraph Co. v. Radio Corp. of AmericaSupreme Court of the United States · 1926
23 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Tolwinsky v. CommissionerUnited States Tax Court · 1986
- Durkin v. CommissionerUnited States Tax Court · 1986
- Law v. CommissionerUnited States Tax Court · 1986
- United States v. Harold M. Ekberg and Secrie EkbergCourt of Appeals for the Eighth Circuit · 1961
- Cory v. CommissionerUnited States Tax Court · 1955
24 more not listed; retrieve them via the Exa API.