Matthiessen v. Commissioner
United States Board of Tax Appeals
1. A residuary legatee under a will acquired personal property within the meaning of section 213(b)(3) of the Revenue Act of 1918, when distributed by the executor or trustee, and not at the death of the testator, for the purpose of computing the gain or loss upon the subsequent sale thereof. 2. Upon the evidence submitted, held, that taxpayer acquired the stock, the profit upon the sale of which is here in controversy, on March 13, 1918, under a distribution agreement…
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1. A residuary legatee under a will acquired personal property within the meaning of section 213(b)(3) of the Revenue Act of 1918, when distributed by the executor or trustee, and not at the death of the testator, for the purpose of computing the gain or loss upon the subsequent sale thereof. 2. Upon the evidence submitted, held, that taxpayer acquired the stock, the profit upon the sale of which is here in controversy, on March 13, 1918, under a distribution agreement between the beneficiaries named in the will, who were also the executors and trustees thereunder.
1Opinion of the Court
APPEAL OF F. W. MATTHIESSEN, JR.
Matthiessen v. Commissioner
Docket No. 2125.
United States Board of Tax Appeals
2 B.T.A. 921; 1925 BTA LEXIS 2213;
October 20, 1925, Decided Submitted July 1, 1925.
1. A residuary legatee under a will acquired personal property within the meaning of section 213(b)(3) of the Revenue Act of 1918, when distributed by the executor or trustee, and not at the death of the testator, for the purpose of computing the gain or loss upon the subsequent sale thereof.
2. Upon the evidence submitted, held, that taxpayer acquired the stock, the profit upon the sale of which is here…
2Cases cited1 opinion
- Matthiessen v. CommissionerUnited States Board of Tax Appeals · 1925