Knowles v. Commissioner
United States Board of Tax Appeals
Petitioner, after his marriage, acquired interest in certain stocks, which, it is agreed, constitutes community property. Upon the question, at which time petitioner acquired interest in stocks of two particular corporations, the facts show that petitioner had no enforceable right to California corporation and Arizona corporation stock until after July 29, 1927, the effective date of section 161a of the Civil Code of California.
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Petitioner, after his marriage, acquired interest in certain stocks, which, it is agreed, constitutes community property. Upon the question, at which time petitioner acquired interest in stocks of two particular corporations, the facts show that petitioner had no enforceable right to California corporation and Arizona corporation stock until after July 29, 1927, the effective date of section 161a of the Civil Code of California. Held, (a) the initial interest in the stocks was acquired after July 29, 1927; (b) petitioner's wife acquired a present one-half interest in the stocks under section…
1Opinion of the Court
*865OPINION.
HaReon :
It is conceded by respondent that the stocks of the four corporations in question were community property. It follows that the income from dividends on the stocks was community income. The question is, whether all of the income from dividends paid on the stock of the California and Arizona corporations in 1934 and 1935 is taxable to petitioner, a husband, or is taxable one-half to petitioner and one-half to his wife, under the community property law of the State of California.
The particular question arises because of a change made in the community property law of California by…
2Cases cited8 opinions
- United States v. RobbinsSupreme Court of the United States · 1926
- United States v. MalcolmSupreme Court of the United States · 1931
- Trimble v. TrimbleCalifornia Supreme Court · 1933
- McKay v. LauristonCalifornia Supreme Court · 1928
- Stewart v. StewartCalifornia Supreme Court · 1928
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Knowles v. CommissionerUnited States Board of Tax Appeals · 1939