Blumenthal v. Commissioner
United States Board of Tax Appeals
Where petitioner instructs a broker to sell 1,075 shares of certain stock owned by him and at the same time instructs the broker to purchase the same number of shares in the name of petitioner's wife and pays for the stock by instructing a bank, orally, to charge the purchase price thereof to a bank account opened for that purpose in the name of his wife with a check drawn by him against his own account in the bank, the petitioner all the while retaining control of the…
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Where petitioner instructs a broker to sell 1,075 shares of certain stock owned by him and at the same time instructs the broker to purchase the same number of shares in the name of petitioner's wife and pays for the stock by instructing a bank, orally, to charge the purchase price thereof to a bank account opened for that purpose in the name of his wife with a check drawn by him against his own account in the bank, the petitioner all the while retaining control of the situation, held, such transaction does not constitute a sale resulting in a deductible loss to petitioner.
1Opinion of the Court
JOSEPH BLUMENTHAL, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Blumenthal v. Commissioner
Docket No. 68473.
United States Board of Tax Appeals
30 B.T.A. 125; 1934 BTA LEXIS 1366;
March 20, 1934, Promulgated
Where petitioner instructs a broker to sell 1,075 shares of certain stock owned by him and at the same time instructs the broker to purchase the same number of shares in the name of petitioner's wife and pays for the stock by instructing a bank, orally, to charge the purchase price thereof to a bank account opened for that purpose in the name of his wife with a check drawn by…
2Cases cited1 opinion
- Blumenthal v. CommissionerUnited States Board of Tax Appeals · 1934