Williamson v. Commissioner
United States Board of Tax Appeals
Petitioner acquired certain stocks from the estate of her husband who died intestate. The stocks decreased in value between the time of the death of the decedent and the time of their distribution to petitioner. In 1932 and 1933 she sold part of the stocks thus acquired for amounts in excess of the value of the stocks at the time of their distribution to her but not in excess of the value of these stocks at the time of the decedent's death.
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Petitioner acquired certain stocks from the estate of her husband who died intestate. The stocks decreased in value between the time of the death of the decedent and the time of their distribution to petitioner. In 1932 and 1933 she sold part of the stocks thus acquired for amounts in excess of the value of the stocks at the time of their distribution to her but not in excess of the value of these stocks at the time of the decedent's death. Held: (1) Petitioner's basis for gain or loss is the fair market value of the stocks sold at the time of their distribution to her, as provided in section…
1Opinion of the Court
BESSIE C. WILLIAMSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Williamson v. Commissioner
Docket No. 80545.
United States Board of Tax Appeals
34 B.T.A. 668; 1936 BTA LEXIS 663;
June 5, 1936, Promulgated
Petitioner acquired certain stocks from the estate of her husband who died intestate. The stocks decreased in value between the time of the death of the decedent and the time of their distribution to petitioner. In 1932 and 1933 she sold part of the stocks thus acquired for amounts in excess of the value of the stocks at the time of their distribution to her but not in excess of…
2Cases cited3 opinions
- McFeely v. CommissionerSupreme Court of the United States · 1935
- Williamson v. CommissionerUnited States Board of Tax Appeals · 1936
- Haskell v. CommissionerUnited States Board of Tax Appeals · 1934