Getz v. Commissioner
United States Tax Court
Bona fide sale at fair market value by taxpayer of stock acquired for investment purposes to a family-owned corporation whose regular business was investments in security held not to result in a dividend distribution to taxpayer. Damage during the taxable year to petitioners' residential lake-front property resulting from a combination of unusually high water levels and high wind velocities held deductible as casualty loss.
1Opinion of the Court
George F. Getz, Jr., and Olive A. Getz v. Commissioner.
Getz v. Commissioner
Docket No. 94503.
United States Tax Court
T.C. Memo 1965-110; 1965 Tax Ct. Memo LEXIS 219; 24 T.C.M. (CCH) 580; T.C.M. (RIA) 65110;
April 23, 1965
Bona fide sale at fair market value by taxpayer of stock acquired for investment purposes to a family-owned corporation whose regular business was investments in security held not to result in a dividend distribution to taxpayer.
Damage during the taxable year to petitioners' residential lake-front property resulting from a combination of unusually high water levels and high wind…
2Cases cited8 opinions
- Palmer v. CommissionerSupreme Court of the United States · 1937
- Chicago, St. Louis & New Orleans Railroad v. Pullman Southern Car Co.Supreme Court of the United States · 1891
- Matheson v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1931
- Durden v. CommissionerUnited States Tax Court · 1944
- James M. Kemper v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1959
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