Knowles v. Commissioner
United States Board of Tax Appeals
Petitioner, after his marriage, acquired interest in certain stocks, which, it is agreed, constitutes community property. Upon the question, at which time petitioner acquired interest in stocks of two particular corporations, the facts show that petitioner had no enforceable right to California corporation and Arizona corporation stock until after July 29, 1927, the effective date of section 161a of the Civil Code of California.
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Petitioner, after his marriage, acquired interest in certain stocks, which, it is agreed, constitutes community property. Upon the question, at which time petitioner acquired interest in stocks of two particular corporations, the facts show that petitioner had no enforceable right to California corporation and Arizona corporation stock until after July 29, 1927, the effective date of section 161a of the Civil Code of California. Held, (a) the initial interest in the stocks was acquired after July 29, 1927; (b) petitioner's wife acquired a present one-half interest in the stocks under section…
1Opinion of the Court
EDWIN C. F. KNOWLES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Knowles v. Commissioner
Docket No. 91495.
United States Board of Tax Appeals
40 B.T.A. 861; 1939 BTA LEXIS 791;
November 2, 1939, Promulgated
Petitioner, after his marriage, acquired interest in certain stocks, which, it is agreed, constitutes community property. Upon the question, at which time petitioner acquired interest in stocks of two particular corporations, the facts show that petitioner had no enforceable right to California corporation and Arizona corporation stock until after July 29, 1927, the effective…
2Cases cited1 opinion
- Knowles v. CommissionerUnited States Board of Tax Appeals · 1939