Uihlein v. Commissioner
United States Board of Tax Appeals
1. All deductions to which either husband or wife filing a joint return is entitled may be deducted from their aggregate gross income. Frank B. Gummey,26 B.T.A. 894, followed. 2. A loss sustained by a husband upon the sale of stock to his wife, with the mutual intention in good faith of transferring ownership, the wife having a substantial estate of her own and having paid therefor with her own money, is deductible by the husband.
1Opinion of the Court
*401OPINION.
McMahon :
The first contention of the respondent, that, where a husband and wife living together file a single joint return of income, such husband and wife become a single taxing unit and, consequently, a loss sustained by the husband from the sale of stock to his wife, or vice versa, may not be taken as a deduction in the joint income tax return, as an individual can not sell property to himself, was considered in Frank B. Gummey, 26 B.T.A. 894, wherein the Board, resolving such contention adversely to the respondent, stated as follows:
* * * Where a husband and wife exercise the…
2Cases cited10 opinions
- United States v. IshamSupreme Court of the United States · 1873
- Nace Realty Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Gummey v. CommissionerUnited States Board of Tax Appeals · 1932
- Fouke v. CommissionerUnited States Board of Tax Appeals · 1925
- Robertson v. CommissionerUnited States Board of Tax Appeals · 1930
5 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Commissioner of Internal Revenue v. NeavesCourt of Appeals for the Ninth Circuit · 1936
- Commissioner v. BrumderCourt of Appeals for the Seventh Circuit · 1936
- Fawsett v. CommissionerUnited States Board of Tax Appeals · 1934
- Biggers v. CommissionerUnited States Board of Tax Appeals · 1939
- Brochon v. CommissionerUnited States Board of Tax Appeals · 1934
6 more not listed; retrieve them via the Exa API.