Legal Opinion
Estate of Carter v. Commissioner
Court of Appeals for the Eighth Circuit
Decided January 18, 1962No. 16787PublishedCited by 6 opinions
1Opinion of the Court
RIDGE, Circuit Judge.
This is an appeal from a decision of the Tax Court (35 T.C. 326) sustaining a deficiency assessment made in respect to the several income tax returns filed by petitioners for the years 1955 and 1956.
The broad question presented is whether the amounts paid as distributions from a trust estate, which sums arose from the settlement of litigation under the anti-trust laws (15 U.S.C.A. §15) constituted in the hands of petitioners ordinary income or capital gains. The Tax Court determined they were ordinary income and not a subject for long-term capital gains treatment under…
2Cases cited25 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- Boehm v. CommissionerSupreme Court of the United States · 1945
- Commissioner v. Gillette Motor Transport, Inc.Supreme Court of the United States · 1960
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3Cited by6 opinions
- Alexander v. Internal Revenue Service of the United StatesCourt of Appeals for the First Circuit · 1995
- Estate of Ervin A. Reinke, Deceased Marion Reinke, Personal Representative Marion Reinke v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1995
- Estate Of Mabel G. CarterCourt of Appeals for the Eighth Circuit · 1962
- Greene v. CommissionerUnited States Tax Court · 1983
- Putchat v. CommissionerUnited States Tax Court · 1969
1 more not listed; retrieve them via the Exa API.