Duerr v. Commissioner
United States Tax Court
1. Securities payable only out of income being more like preferred stock than debentures, held, the receipt thereof resulted in continuation rather than termination of petitioner's interest in the issuing corporation; Carter Tiffany, 16 T.C. 1443, distinguished; and receipt of additional such securities in lieu of accrued dividends on previously existing "preferred stock," held, essentially equivalent to a dividend. 2. In absence of Federal estate tax return or other…
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1. Securities payable only out of income being more like preferred stock than debentures, held, the receipt thereof resulted in continuation rather than termination of petitioner's interest in the issuing corporation; Carter Tiffany, 16 T.C. 1443, distinguished; and receipt of additional such securities in lieu of accrued dividends on previously existing "preferred stock," held, essentially equivalent to a dividend. 2. In absence of Federal estate tax return or other evidence, value as appraised for State inheritance tax purposes, held, fair market value at date of death and basis to legatee…
1Opinion of the Court
Mary Duerr, Petitioner, v. Commissioner of Internal Revenue, Respondent
Duerr v. Commissioner
Docket No. 60960
United States Tax Court
30 T.C. 944; 1958 U.S. Tax Ct. LEXIS 119;
July 30, 1958, Filed
Decision will be entered for the respondent.
1. Securities payable only out of income being more like preferred stock than debentures, held, the receipt thereof resulted in continuation rather than termination of petitioner's interest in the issuing corporation; Carter Tiffany, 16 T.C. 1443, distinguished; and receipt of additional such securities in lieu of accrued dividends on previously existing…
2Cases cited7 opinions
- Helvering v. R. J. Reynolds Tobacco Co.Supreme Court of the United States · 1939
- Universal Oil Products Co. v. Campbell (United States, Intervenor) (Two Cases)Court of Appeals for the Seventh Circuit · 1950
- Bullock v. CommissionerUnited States Tax Court · 1956
- Jewel Tea Co. v. United StatesCourt of Appeals for the Second Circuit · 1937
- Lester Lumber Co. v. CommissionerUnited States Tax Court · 1950
2 more not listed; retrieve them via the Exa API.