Legal Opinion
Forstmann v. Rogers
Court of Appeals for the Third Circuit
Decided April 27, 1942No. 7712PublishedCited by 7 opinions
1Opinion of the Court
MARIS, Circuit Judge.
In December, 1922, the taxpayer exchanged debenture bonds of a Delaware corporation for bonds of the State of Missouri and the City of Buffalo. The original cost allocated to the debentures was $151,136.28. Their fair market value in December, 1922, was $711,746.55. The taxpayer held the state and municipal bonds for investment and not primarily for sale. In 1929 and 1930 the bonds matured and the taxpayer received $690,000 for them. In her income tax returns for those years the taxpayer claimed a capital loss as a result of the disposition of the bonds. In her…
2Cases cited8 opinions
- Hazeltine Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1937
- Commissioner of Int. Rev. v. Schumacher Wall Bd. Corp.Court of Appeals for the Ninth Circuit · 1937
- Champlin Refining Co. v. Commissioner of Internal Rev.Court of Appeals for the Tenth Circuit · 1941
- Rice v. CommissionerCourt of Appeals for the First Circuit · 1931
- Securities Co. v. CommissionerCourt of Appeals for the Second Circuit · 1933
3 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Philadelphia Park Amusement Co. v. United StatesUnited States Court of Claims · 1954
- Budd International Corp. v. Commissioner of Int. Rev.Court of Appeals for the Third Circuit · 1944
- Barber Oil Corporation v. ManningDistrict Court, D. New Jersey · 1955
- Reo Motors, Inc. v. CommissionerCourt of Appeals for the Sixth Circuit · 1948
- Girard Trust Co. v. United StatesDistrict Court, E.D. Pennsylvania · 1946
2 more not listed; retrieve them via the Exa API.