Haskell v. Commissioner
United States Board of Tax Appeals
Shares of corporate stock received by petitioner under the will of his wife, of which he was sole executor and sole legatee, held not to have constituted property acquired by specific bequest. Held, further, that the gain or loss from the sale thereof is, under the provisions of section 113(a)(5) of the Revenue Act of 1928, to be determined on the basis of their fair market value at the time of their distribution to the petitioner.
1Opinion of the Court
HARRY G. HASKELL, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Haskell v. Commissioner
Docket No. 72662.
United States Board of Tax Appeals
30 B.T.A. 855; 1934 BTA LEXIS 1266;
May 31, 1934, Promulgated
Shares of corporate stock received by petitioner under the will of his wife, of which he was sole executor and sole legatee, held not to have constituted property acquired by specific bequest. Held, further, that the gain or loss from the sale thereof is, under the provisions of section 113(a)(5) of the Revenue Act of 1928, to be determined on the basis of their fair market value at…
2Cases cited10 opinions
- Taft v. BowersSupreme Court of the United States · 1929
- Tifft v. . PorterNew York Court of Appeals · 1853
- Kenaday v. SinnottSupreme Court of the United States · 1901
- Johnson v. GossMassachusetts Supreme Judicial Court · 1880
- Kelly v. RichardsonSupreme Court of Alabama · 1892
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