McLean v. Commissioner
United States Board of Tax Appeals
Under the Revenue Act of 1918, the March 1, 1913, value of certain shares of stock should not be reduced by the amount of a tax-free distribution made thereon in 1917, in determining the gain derived from the sale thereof in 1919.
1Opinion of the Court
OPINION.
MoRRis:
The only question involved is whether for the purpose of determining the gain derived from the sale of certain shares of stock in 1919, their March 1, 1913, value should be reduced by the amount of a tax-free distribution received by the taxpayer in 1917. Section 202 of the Revenue Act of 1918 reads in part as follows:
Sec. 202. (a) That for the purpose of ascertaining the gain derived or loss sustained from the sale or other disposition of property, real, personal, or mixed, the basis shall be—(1) In the ease of property acquired before March 1, 1913, the fair market price or…
2Cases cited7 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Hamilton v. Kentucky Distilleries & Warehouse Co.Supreme Court of the United States · 1919
- Lynch v. HornbySupreme Court of the United States · 1918
- United States v. FlannerySupreme Court of the United States · 1925
- Lynch v. TurrishSupreme Court of the United States · 1918
2 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Baker v. CommissionerUnited States Board of Tax Appeals · 1933
- Ayer v. CommissionerUnited States Board of Tax Appeals · 1938
- James v. CommissionerUnited States Board of Tax Appeals · 1928
- McLean v. CommissionerUnited States Board of Tax Appeals · 1926
- Webb v. CommissionerUnited States Board of Tax Appeals · 1926