Johnson v. Commissioner
United States Tax Court
One of petitioners advanced funds to an estate of which she was executrix for payment of administration expenses and taxes and was reimbursed for such advances with the approval of the Probate Court with jurisdiction over the estate by transfer by the estate to her of stock.
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One of petitioners advanced funds to an estate of which she was executrix for payment of administration expenses and taxes and was reimbursed for such advances with the approval of the Probate Court with jurisdiction over the estate by transfer by the estate to her of stock. The stock was transferred at a price which petitioner and the administrator c.t.a. agreed represented its fair market value (less an adjustment for blockage) at the time petitioner agreed to accept such stock as reimbursement. This price was less than the fair market value of the stock at the dates of its transfer to…
1Opinion of the Court
Paul A. Johnson and Dorothy L. Johnson, Petitioners, v. Commissioner of Internal Revenue, Respondent
Johnson v. Commissioner
Docket No. 90251
United States Tax Court
39 T.C. 473; 1962 U.S. Tax Ct. LEXIS 15;
November 30, 1962, Filed
Decision will be entered under Rule 50.
One of petitioners advanced funds to an estate of which she was executrix for payment of administration expenses and taxes and was reimbursed for such advances with the approval of the Probate Court with jurisdiction over the estate by transfer by the estate to her of stock. The stock was transferred at a price which petitioner and…
2Cases cited1 opinion
- Johnson v. CommissionerUnited States Tax Court · 1962