Wood v. Commissioner

1. Shares of stock purchased within two years of the date of sale thereof, although purchased under rights to subscribe received on stock held more than two years, are not "capital assets" within section 101(c)(8) of the Revenue Act of 1928. 2. A stock dividend received on stock purchased under rights to subscribe in the same year such stock dividend was sold is not a capital asset within section 101(c)(8)(C) of the Revenue Act of 1928. 3. In computing allowance for deduction for contributions under section 23(n) of the Revenue Act of 1928, "capital net gain" as computed under section 101 of…