Marshall v. Commissioner
United States Tax Court
Amounts received by former shareholder for transfer of stock pursuant to agreement requiring surrender of all stock holdings upon retirement from active employment held, on facts, proceeds of sale of capital assets so as to permit full recovery of basis prior to taxation of any further receipts as capital gains, even though sale price was measured by contingent future dividends. Burnet v. Logan, 283 U.S. 404, followed.
1Opinion of the Court
Estate of Raymond T. Marshall, Deceased, Ann M. Cronin and Hazel Lockwood, Executrices, et al., 1 Petitioners, v. Commissioner of Internal Revenue, Respondent
Marshall v. Commissioner
Docket Nos. 36433, 36434, 39944
United States Tax Court
20 T.C. 979; 1953 U.S. Tax Ct. LEXIS 70;
September 11, 1953, Promulgated
Decisions will be entered under Rule 50.
Amounts received by former shareholder for transfer of stock pursuant to agreement requiring surrender of all stock holdings upon retirement from active employment held, on facts, proceeds of sale of capital assets so as to permit full recovery of…
2Cases cited5 opinions
- Burnet v. LoganSupreme Court of the United States · 1931
- McAllister v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1946
- Bell's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1943
- Nordberg Mfg. Co. v. KuhlCourt of Appeals for the Seventh Circuit · 1948
- Marshall v. CommissionerUnited States Tax Court · 1953