Roe v. Commissioner
United States Tax Court
1. Distribution by A Corporation to its sole stockholder, B Corporation, out of realized pre-1913 appreciation, which exceeded B Corporation's basis in A Corporation's stock held taxable when redistributed by Corporation B to its stockholders.
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1. Distribution by A Corporation to its sole stockholder, B Corporation, out of realized pre-1913 appreciation, which exceeded B Corporation's basis in A Corporation's stock held taxable when redistributed by Corporation B to its stockholders. Internal Revenue Code Section 115 (1). 2. Distributions to shareholders in 1943 and 1945, in which years the corporation had adequate net income to support such distribution, held taxable as dividends under section 115 (b), Internal Revenue Code, notwithstanding outstanding stockholders' "accounts payable" reflecting previously declared but unpaid…
1Opinion of the Court
Mabel C. Roe, et al., 1 Petitioners, v. Commissioner of Internal Revenue, Respondent
Roe v. Commissioner
Docket Nos. 16358, 16359, 16360, 16361, 16362, 16442, 16443, 16489
United States Tax Court
15 T.C. 503; 1950 U.S. Tax Ct. LEXIS 63;
October 16, 1950, Promulgated
Decisions will be entered under Rule 50.
1. Distribution by A Corporation to its sole stockholder, B Corporation, out of realized pre-1913 appreciation, which exceeded B Corporation's basis in A Corporation's stock held taxable when redistributed by Corporation B to its stockholders. Internal Revenue Code Section 115 (1).
2. Distributions…
2Cases cited4 opinions
- Lynch v. HornbySupreme Court of the United States · 1918
- Goldwyn v. CommissionerUnited States Tax Court · 1947
- Blauvelt v. CommissionerUnited States Tax Court · 1944
- Roe v. CommissionerUnited States Tax Court · 1950