Robinson v. Commissioner
United States Board of Tax Appeals
1. In the early part of 1927 the petitioner sold certain shares of stock, which cost him $45,000, for $87,500, receiving in payment therefor $17,500 in cash and sixteen promissory notes, four payable on the first of March of each of the years 1928, 1929, 1930 and 1931, each four aggregating $17,500. Later in the year 1927, the petitioner, in part payment of certain real estate then purchased by him, transferred at their face value the eight notes having the earliest maturity…
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1. In the early part of 1927 the petitioner sold certain shares of stock, which cost him $45,000, for $87,500, receiving in payment therefor $17,500 in cash and sixteen promissory notes, four payable on the first of March of each of the years 1928, 1929, 1930 and 1931, each four aggregating $17,500. Later in the year 1927, the petitioner, in part payment of certain real estate then purchased by him, transferred at their face value the eight notes having the earliest maturity dates. Held, the petitioner is not entitled to report the profit realized from the sale of his stock on an installment…
1Opinion of the Court
E. G. ROBINSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Robinson v. Commissioner
Docket No. 50302.
United States Board of Tax Appeals
28 B.T.A. 788; 1933 BTA LEXIS 1071;
July 28, 1933, Promulgated
1. In the early part of 1927 the petitioner sold certain shares of stock, which cost him $45,000, for $87,500, receiving in payment therefor $17,500 in cash and sixteen promissory notes, four payable on the first of March of each of the years 1928, 1929, 1930 and 1931, each four aggregating $17,500. Later in the year 1927, the petitioner, in part payment of certain real estate then…
2Cases cited2 opinions
- Chapman v. CommissionerUnited States Board of Tax Appeals · 1930
- Robinson v. CommissionerUnited States Board of Tax Appeals · 1933