Hopkins v. Commissioner
United States Board of Tax Appeals
1. Securities were distributed in 1926 to petitioner as remainderman under testamentary trusts created in 1915. Held that the date of testator's death is the time of acquisition of the securities by petitioner and value at that date is the basis for determining gain or loss on the sale in 1927. Chandler v. Field, 58 Fed.(2d) 370, followed. 2. Dividends declared and payable in 1927, checks for which were mailed in that year and received by petitioner in 1928, were properly…
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1. Securities were distributed in 1926 to petitioner as remainderman under testamentary trusts created in 1915. Held that the date of testator's death is the time of acquisition of the securities by petitioner and value at that date is the basis for determining gain or loss on the sale in 1927. Chandler v. Field, 58 Fed.(2d) 370, followed. 2. Dividends declared and payable in 1927, checks for which were mailed in that year and received by petitioner in 1928, were properly included by respondent in 1927 income. Mary Miller Braxton,22 B.T.A. 128, followed.
1Opinion of the Court
FARLEY HOPKINS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hopkins v. Commissioner
Docket No. 52330.
United States Board of Tax Appeals
27 B.T.A. 845; 1933 BTA LEXIS 1296;
February 28, 1933, Promulgated
1. Securities were distributed in 1926 to petitioner as remainderman under testamentary trusts created in 1915. Held that the date of testator's death is the time of acquisition of the securities by petitioner and value at that date is the basis for determining gain or loss on the sale in 1927. Chandler v. Field, 58 Fed.(2d) 370, followed.
2. Dividends declared and payable in 1927,…
2Cases cited2 opinions
- Braxton v. CommissionerUnited States Board of Tax Appeals · 1931
- Hopkins v. CommissionerUnited States Board of Tax Appeals · 1933