Johnston v. Commissioner
United States Board of Tax Appeals
SECTION 44(d), REVENUE ACT OF 1932 - TRANSMISSION OF INSTALLMENT OBLIGATIONS AT DEATH. - At the time of filing the 1932 return of the decedent, who died owning installment obligations, the form for filing the bond required by article 355, Regulations 77, was not available. Thereafter deedent's executor offered to file a bond, and prior to the hearing of this proceeding the distributees reported in their returns the proceeds of the installment obligations.
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SECTION 44(d), REVENUE ACT OF 1932 - TRANSMISSION OF INSTALLMENT OBLIGATIONS AT DEATH. - At the time of filing the 1932 return of the decedent, who died owning installment obligations, the form for filing the bond required by article 355, Regulations 77, was not available. Thereafter deedent's executor offered to file a bond, and prior to the hearing of this proceeding the distributees reported in their returns the proceeds of the installment obligations. Held, that under circumstances here the treatment of the installment obligations as resulting in gain to the decedent under section 44(d)…
1Opinion of the Court
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Johnston v. Commissioner
Docket No. 79029.
United States Board of Tax Appeals
33 B.T.A. 551; 1935 BTA LEXIS 734;
November 26, 1935, Promulgated
SECTION 44(d), REVENUE ACT OF 1932 - TRANSMISSION OF INSTALLMENT OBLIGATIONS AT DEATH. - At the time of filing the 1932 return of the decedent, who died owning installment obligations, the form for filing the bond required by article 355, Regulations 77, was not available. Thereafter deedent's executor offered to file a bond, and prior to the hearing of this proceeding the distributees reported in their returns…
2Cases cited1 opinion
- Johnston v. CommissionerUnited States Board of Tax Appeals · 1935