Chesson v. Commissioner
United States Board of Tax Appeals
1. INCOME - INTEREST - COMMUNITY PROPERTY. - Interest earned during 1923 upon moneys of the petitioner, a resident of Texas, deposited in banks in his name, is community income under the laws of Texas, Willcutt v. Willcutt,278 S.W. 236, and such interest should be reported for income tax purposes, one-half by the petitioner and one-half by his wife.
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1. INCOME - INTEREST - COMMUNITY PROPERTY. - Interest earned during 1923 upon moneys of the petitioner, a resident of Texas, deposited in banks in his name, is community income under the laws of Texas, Willcutt v. Willcutt,278 S.W. 236, and such interest should be reported for income tax purposes, one-half by the petitioner and one-half by his wife. Hopkins, Collector of Internal Revenue v. Bacon,282 U.S. 122. 2. INCOME - ROYALTY OIL - COMMUNITY PROPERTY. - Moneys derived by the petitioner, a resident of Texas, from the sale of royalty oil delivered to the petitioner in kind out of a…
1Opinion of the Court
OSCAR CHESSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Chesson v. Commissioner
Docket Nos. 34467, 43986.
United States Board of Tax Appeals
22 B.T.A. 818; 1931 BTA LEXIS 2056;
March 19, 1931, Promulgated
1. INCOME - INTEREST - COMMUNITY PROPERTY. - Interest earned during 1923 upon moneys of the petitioner, a resident of Texas, deposited in banks in his name, is community income under the laws of Texas, Willcutt v. Willcutt,278 S.W. 236, and such interest should be reported for income tax purposes, one-half by the petitioner and one-half by his wife. Hopkins, Collector of…
2Cases cited4 opinions
- Hopkins v. BaconSupreme Court of the United States · 1930
- Stephens v. StephensCourt of Appeals of Texas · 1927
- Willcutt v. WillcuttCourt of Appeals of Texas · 1925
- Chesson v. CommissionerUnited States Board of Tax Appeals · 1931