Dibblee v. Commissioner
United States Board of Tax Appeals
Petitioner acquired certain stocks and bonds by general bequest under the will of her mother, who died on March 28, 1926. These securities were distributed to the petitioner under a decree of final distribution dated May 21, 1927, and were sold by her on certain dates extending from April 18 to December 18, 1928. In her return for 1928 petitioner reported the profit from the sales as capital net gain.
Read the full summary
Petitioner acquired certain stocks and bonds by general bequest under the will of her mother, who died on March 28, 1926. These securities were distributed to the petitioner under a decree of final distribution dated May 21, 1927, and were sold by her on certain dates extending from April 18 to December 18, 1928. In her return for 1928 petitioner reported the profit from the sales as capital net gain. The respondent included the profit as ordinary income, upon the ground that the securities had been held by the petitioner for a period of less than two years. Held, the respondent correctly…
1Opinion of the Court
ISABEL K. DIBBLEE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Dibblee v. Commissioner
Docket No. 61036.
United States Board of Tax Appeals
29 B.T.A. 1070; 1934 BTA LEXIS 1427;
February 13, 1934, Promulgated
Petitioner acquired certain stocks and bonds by general bequest under the will of her mother, who died on March 28, 1926. These securities were distributed to the petitioner under a decree of final distribution dated May 21, 1927, and were sold by her on certain dates extending from April 18 to December 18, 1928. In her return for 1928 petitioner reported the profit from the…
2Cases cited4 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Western Pac. Ry. Co. v. GodfreyCalifornia Supreme Court · 1913
- Murphy v. CrouseCalifornia Supreme Court · 1901
- Dibblee v. CommissionerUnited States Board of Tax Appeals · 1934