Virginia K. Jones v. United States

McCREE, Circuit Judge.

This is an appeal from the district court’s order granting plaintiff’s motion for summary judgment in a tax refund suit. The only issue on appeal is whether the taxpayer’s donation of shares of corporate stock to a charity, after the corporation had adopted a plan of complete liquidation, constitutes an anticipatory assignment of income that warrants treating the liquidation proceeds *1344as income to the taxpayer. We determine that the transaction should be treated as an anticipatory assignment of income and, accordingly, overrule our decision to the contrary in Jacobs v.…