Schmitt v. Commissioner
United States Tax Court
In the taxable year 1947 petitioners, stockholders of Wolverine Supply & Manufacturing Company, received a proportionate distribution of 1,486 shares of its capital stock acquired by purchase out of undivided profits. Held, that such distribution constituted a taxable dividend to the extent of the fair market value of the shares received by each petitioner.
1Opinion of the Court
Joseph P. Schmitt and Ruth B. Schmitt, Petitioners, v. Commissioner of Internal Revenue, Respondent. James S. Lehren, Petitioner, v. Commissioner of Internal Revenue, Respondent
Schmitt v. Commissioner
Docket Nos. 38971, 38972
United States Tax Court
20 T.C. 352; 1953 U.S. Tax Ct. LEXIS 163;
May 14, 1953, Promulgated
Decisions will be entered for the respondent.
In the taxable year 1947 petitioners, stockholders of Wolverine Supply & Manufacturing Company, received a proportionate distribution of 1,486 shares of its capital stock acquired by purchase out of undivided profits. Held, that such…
2Cases cited1 opinion
- Schmitt v. CommissionerUnited States Tax Court · 1953