Thomas Kerr and Barbara Kerr v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
1Opinion of the Court
BARNES, Circuit Judge:
This is a petition for review of a decision of the Tax Court in favor of the Commissioner. 38 T.C. 723. The Tax Court had jurisdiction of the cause under Section 6213. 1 This court has jurisdiction of this petition pursuant to Section 7482.
The taxpayer, Thomas Kerr, 2 owned all of the stock of two corporations. On October 24,1955, he transferred the stock of one to the other for a note with face value of $50,000. There are two issues: (1) Was the $50,000 note taxable to him as a distribution essentially equivalent to a dividend under §§ 302, 304, and other related…
Also in this document: Dissent.
2Cases cited27 opinions
- Southern Pacific Co. v. LoweSupreme Court of the United States · 1918
- Bowers v. Kerbaugh-Empire Co.Supreme Court of the United States · 1926
- Commissioner v. Estate of BedfordSupreme Court of the United States · 1945
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
- Boyle v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1951
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3Cited by41 opinions
- United States v. DavisSupreme Court of the United States · 1970
- Meyer v. CommissionerUnited States Tax Court · 1966
- Isidore Himmel and Estate of Lillian Himmel, Isidore Himmel v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1964
- Lewis v. CommissionerUnited States Tax Court · 1966
- Haserot v. CommissionerUnited States Tax Court · 1966
36 more not listed; retrieve them via the Exa API.