Peck v. Commissioner
United States Board of Tax Appeals
A dividend declared and payable in 1929 and paid by check mailed by the corporation in 1929, which is received in 1930 by a shareholder who makes his return on the receipts basis is within the shareholder's income for 1929.
1Opinion of the Court
opinion.
Sternhaoen:
The respondent determined a deficiency of $819.82 in petitioner’s income tax for 1929. The only item which the petitioner assails is the inclusion in his 1929 income of dividends declared, payable, and mailed to him in that year but not actually received by him until 1930. The facts are stipulated, but need not be repeated. One dividend was declared November 5, 1929, as follows:
*873Toted that a dividend of 3½% be paid December 31, 1929, to the preferred stockholders of record on December 31, 1929.
The check therefor was mailed December 31, 1929, and received by petitioner…
2Cases cited2 opinions
- Adams v. CommissionerUnited States Board of Tax Appeals · 1930
- Braxton v. CommissionerUnited States Board of Tax Appeals · 1931
3Cited by2 opinions
- Harkness v. CommissionerUnited States Board of Tax Appeals · 1935
- Peck v. CommissionerUnited States Board of Tax Appeals · 1934