Legal Opinion
Brumder v. United States
District Court, E.D. Wisconsin
Decided October 16, 1944No. Civ. A. No. 1222Published
1Opinion of the Court
DUFFY, District Judge.
This is an action to recover $5,870.53 income tax paid by plaintiff for the year 1940.
In 1928 and 1929 plaintiff acquired 1,051 shares of the common stock of Continental Shares, Inc, at a cost of $35,629.35. On February 26, 1940, he received in exchange for this stock six shares of the common stock of Liquidating Shares, Inc, and two shares of the common stock of Cliffs Corporation, having a combined market value of $50. Plaintiff sold these shares in December, 1940, for $56.50, and claimed a loss for 1940 by reason of such sale, which claim was disallowed.
Continental…
2Cases cited22 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Reinecke v. SpaldingSupreme Court of the United States · 1930
- De Loss v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1928
- Gowen v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1933
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