Kaplan v. Commissioner
United States Tax Court
P purchased stock of S corporation, by whom he had been employed for 28 years, and of a corporation related to S through indentity of ownership. The respondent determined that P had been allowed to purchase such stock for less than its fair market value because of the employment relationship and that he thereby realized additional compensation. Held, the stock was not sold to P at a "bargain" price.
1Opinion of the Court
SOLOMON I. and BEATRICE KAPLAN, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Kaplan v. Commissioner
Docket No. 8203-71.
United States Tax Court
T.C. Memo 1974-29; 1974 Tax Ct. Memo LEXIS 289; 33 T.C.M. (CCH) 131; T.C.M. (RIA) 74029;
January 31, 1974, Filed.
P purchased stock of S corporation, by whom he had been employed for 28 years, and of a corporation related to S through indentity of ownership. The respondent determined that P had been allowed to purchase such stock for less than its fair market value because of the employment relationship and that he thereby realized additional…
2Cases cited19 opinions
- Commissioner v. LoBueSupreme Court of the United States · 1956
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
- Lewis Thurston Anderson and Clyde Velma Anderson, Lewis Thurston Anderson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Riss v. CommissionerUnited States Tax Court · 1971
- Kaplan v. CommissionerUnited States Tax Court · 1965
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