Griscom v. Commissioner
United States Board of Tax Appeals
1. Petitioner's father died November 10, 1912, leaving a will under the terms of which the residue of his estate was to be held in trust and the income paid to petitioner's mother during her life, and at her death one-fifth of the principal was to be paid over to the petitioner. The petitioner's mother died February 28, 1923, and there were distributed to petitioner on July 17, 1923, certain securities which had formed a part of his father's estate.
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1. Petitioner's father died November 10, 1912, leaving a will under the terms of which the residue of his estate was to be held in trust and the income paid to petitioner's mother during her life, and at her death one-fifth of the principal was to be paid over to the petitioner. The petitioner's mother died February 28, 1923, and there were distributed to petitioner on July 17, 1923, certain securities which had formed a part of his father's estate. The petitioner sold certain of these securities in 1924 and 1925. Held, that the basis to be employed in determining gain or loss on the sales…
1Opinion of the Court
RODMAN E. GRISCOM, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Griscom v. Commissioner
Docket No. 32750.
United States Board of Tax Appeals
22 B.T.A. 979; 1931 BTA LEXIS 2029;
March 31, 1931, Promulgated
1. Petitioner's father died November 10, 1912, leaving a will under the terms of which the residue of his estate was to be held in trust and the income paid to petitioner's mother during her life, and at her death one-fifth of the principal was to be paid over to the petitioner. The petitioner's mother died February 28, 1923, and there were distributed to petitioner on July 17,…
2Cases cited27 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Tyler v. United StatesSupreme Court of the United States · 1930
- Weiss v. StearnSupreme Court of the United States · 1924
- McArthur v. ScottSupreme Court of the United States · 1885
- Potter v. CouchSupreme Court of the United States · 1891
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