Carter v. Commissioner
United States Board of Tax Appeals
COMMUNITY PROPERTY - TEXAS. - Petitioner and his wife are residents of the State of Texas, and have been since their marriage in 1910. Prior to marriage petitioner acquired by gift from his father 650 shares of stock in a texas corporation, and subsequently acquired additional shares (1) by purchase with community funds, (2) by way of stock dividends, and (3) by gift from his mother.
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COMMUNITY PROPERTY - TEXAS. - Petitioner and his wife are residents of the State of Texas, and have been since their marriage in 1910. Prior to marriage petitioner acquired by gift from his father 650 shares of stock in a texas corporation, and subsequently acquired additional shares (1) by purchase with community funds, (2) by way of stock dividends, and (3) by gift from his mother. He sold 500 shares at a profit in the taxable year 1931. Held, the profit so derived was, under Texas law, community funds of petitioner and his wife, whether the stock sold was all petitioner's separate…
1Opinion of the Court
W. T. CARTER, JR., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Carter v. Commissioner
Docket No. 86558.
United States Board of Tax Appeals
36 B.T.A. 853; 1937 BTA LEXIS 647;
November 11, 1937, Promulgated
COMMUNITY PROPERTY - TEXAS. - Petitioner and his wife are residents of the State of Texas, and have been since their marriage in 1910. Prior to marriage petitioner acquired by gift from his father 650 shares of stock in a texas corporation, and subsequently acquired additional shares (1) by purchase with community funds, (2) by way of stock dividends, and (3) by gift from his…
2Cases cited1 opinion
- Carter v. CommissionerUnited States Board of Tax Appeals · 1937