Chester O. Wanvig, Jr. And Martha I. Wanvig v. United States

CASTLE, Senior Circuit Judge.

This case presents the issue of whether or not a taxpayer who has received a stock option from a corporation should be considered as owning the stock held by an adoptive sister or adoptive father, as he would that owned by a natural sibling, or ancestor. The facts are stipulated. On November 3, 1958, taxpayer was granted stock options by Globe Union, Inc., for the purchase of 4,500 shares of stock of the company as compensation for services rendered. On November 22, 1960, Globe Union granted taxpayer options to purchase 6,000 shares. Both options were duly…