Wurlitzer v. Commissioner
United States Board of Tax Appeals
Under the provisions of section 113(a)(2) of the Revenue Act of 1928, the basis for determining gain or loss on the sale of property acquired by gift after December 31, 1920, from a person who also acquired ownership by gift, is the cost or March 1, 1913, value of the property to the last preceding owner by whom it was not acquired by gift.
1Opinion of the Court
OPINION.
Van Fossan:
This proceeding was brought to redetermine a deficiency in the income tax of the petitioner for the year 1929 in the sum of $7,517.11.
The petitioner alleges that the respondent erred in determining that the basis for ascertaining the gain realized by the petitioner in 1929 from the sale of 512 shares of the capital stock of the Rudolph Wurlitzer Co., received by the petitioner on January 28, 1924, as a gift from her daughter, Louise Wurlitzer, who received the stock as a gift from her father, Howard E. Wurlitzer, prior to December 31, *6591920, is the fair market value of…
2Cases cited3 opinions
- Taft v. BowersSupreme Court of the United States · 1929
- Cooper v. United StatesSupreme Court of the United States · 1930
- Mendelson v. CommissionerUnited States Board of Tax Appeals · 1929
3Cited by3 opinions
- Wurlitzer v. HelveringCourt of Appeals for the Sixth Circuit · 1936
- Everett v. CommissionerUnited States Tax Court · 1945
- Wurlitzer v. CommissionerUnited States Board of Tax Appeals · 1934