McLean v. Commissioner

APPEAL OF CAROLINE S. McLEAN.

McLean v. Commissioner

Docket No. 1534.

United States Board of Tax Appeals

4 B.T.A. 487; 1926 BTA LEXIS 2259;

July 29, 1926, Decided

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.

Perry Schwartz, Esq., for the petitioner.

Arthur J. Seaton Esq., for the Commissioner.

MORRIS

Before MARQUETTE and MORRIS.

This is an appeal from the determination of a deficiency in income taxes for the calendar…