Miller v. Commissioner
United States Board of Tax Appeals
Where a taxpayer instructs his broker to sell certain shares of stock purchased at different times and at different prices, and the broker executes the sale, and, as the taxpayer's agent, delivers specific certificates in his hands for stock belonging to the taxpayer, the stock actually sold is the stock represented by the certificates delivered, and the profit should be computed on the shares actually sold rather than on those which the taxpayer intended to sell.
1Opinion of the Court
*193OPINION.
MuRdook:
The Commissioner determined a deficiency of '$1,547.83 for the calendar year 1929. The facts have been stipulated:
' The petitioner sold 500 shares of Otis Elevator Co. common stock through his broker on, or Shortly after, February 25, 1929. The broker delivered five certificates, each for 100 shares, from a number of certificates in his hands for Otis Elevator Co. common stock belonging to the petitioner. The Commissioner, in computing the profit on this sale, used as a basis the adjusted cost of the»purchases represented by the specific certificates delivered. The petitioner…
2Cases cited8 opinions
- United States v. PhellisSupreme Court of the United States · 1921
- Burnet v. BrooksSupreme Court of the United States · 1933
- Mickler Holding Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Horner v. CommissionerUnited States Board of Tax Appeals · 1933
- Heinz v. CommissionerUnited States Board of Tax Appeals · 1933
3 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Davidson v. CommissionerUnited States Board of Tax Appeals · 1936
- Miller v. CommissionerUnited States Board of Tax Appeals · 1934
- Vawter v. CommissionerUnited States Board of Tax Appeals · 1934