Bishop v. Commissioner
United States Tax Court
Held, that one-half of the loss sustained upon the sale, in the course of administration, of securities acquired since 1927 and owned as community property in California is not deductible in the return of the surviving spouse. Commissioner v. Larson, 131 Fed. (2d) 85; Estate of James F. Waters, 3 T. C. 407, followed.
1DissentVan Fossan, J.
The majority opinion concedes that the precise question here posed has not been decided by either the Circuit Court of Appeals for the Ninth Circuit or by the Tax Court, but nevertheless feels bound by the rationale of Commissioner v. Larson, 131 Fed. (2d) 85, and Estate of James F. Waters, 3 T. C. 407. Feeling that these cases are not authority for the conclusion reached by the majority, I must dissent. I shall set out my views at some length.
It may be helpful to place the situation existing in California before 1927 and that obtaining after that date in juxtaposition. Piior to 1927, during…
2Cases cited7 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Blair v. CommissionerSupreme Court of the United States · 1937
- United States v. RobbinsSupreme Court of the United States · 1926
- United States v. MalcolmSupreme Court of the United States · 1931
- Waters v. CommissionerUnited States Tax Court · 1944
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