Adair v. Commissioner
United States Tax Court
Held: (1) Petitioners in docket No. 3881-79 realized ordinary income on the exercise of stock options in 1973; (2) petitioner in docket Nos. 22777-81 and 22778-81 is entitled to a deduction for compensation upon the exercise of said options; and (3) petitioners in docket No. 9235-79 are taxable on the imputed interest on the stock reissued upon the exercise of said options to petitioners in docket No. 3881-79.
1Opinion of the Court
WILLIAM S. ADAIR AND FLORENCE O. ADAIR, ET AL., 1 Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Adair v. Commissioner
Docket Nos. 3881-79, 9235-79, 22777-81, 22778-81.
United States Tax Court
T.C. Memo 1985-392; 1985 Tax Ct. Memo LEXIS 238; 50 T.C.M. (CCH) 620; T.C.M. (RIA) 85392;
August 6, 1985.
Held: (1) Petitioners in docket No. 3881-79 realized ordinary income on the exercise of stock options in 1973; (2) petitioner in docket Nos. 22777-81 and 22778-81 is entitled to a deduction for compensation upon the exercise of said options; and (3) petitioners in docket No. 9235-79 are…
2Cases cited34 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Commissioner v. LoBueSupreme Court of the United States · 1956
- Bogardus v. CommissionerSupreme Court of the United States · 1937
- Robertson v. United StatesSupreme Court of the United States · 1952
- Walburga Oesterreich v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
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