Braunstein v. Commissioner
United States Tax Court
The petitioners formed two corporations for the purpose of constructing apartment houses which were to be financed under section 608 of the National Housing Act, and in each instance there was an excess of mortgage loan funds remaining after the cost of construction had been paid.
Read the full summary
The petitioners formed two corporations for the purpose of constructing apartment houses which were to be financed under section 608 of the National Housing Act, and in each instance there was an excess of mortgage loan funds remaining after the cost of construction had been paid. In the year following completion of construction petitioners, as stockholders, received distribution from corporations in amounts which included the mortgage funds remaining after construction, and thereafter, in the same year, sold their stock in the two corporations. Held, that the corporations were collapsible…
1Opinion of the Court
Benjamin Braunstein and Diana Braunstein, et al., 1 Petitioners, v. Commissioner of Internal Revenue, Respondent
Braunstein v. Commissioner
Docket Nos. 56657, 56658, 56659
United States Tax Court
36 T.C. 22; 1961 U.S. Tax Ct. LEXIS 178;
April 11, 1961, Filed
Decisions will be entered for the respondent.
The petitioners formed two corporations for the purpose of constructing apartment houses which were to be financed under section 608 of the National Housing Act, and in each instance there was an excess of mortgage loan funds remaining after the cost of construction had been paid. In the year…
Also in this document: Dissent.
2Cases cited14 opinions
- Raymond G. Burge and Kathleen E. Burge v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1958
- Arthur Glickman Herman Glickman and Ruth Glickman and Aaron Glickmand and Freda Glickman v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1958
- Burge v. CommissionerUnited States Tax Court · 1957
- C. D. Spangler and Veva C. Spangler v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1960
- Sidney v. CommissionerUnited States Tax Court · 1958
9 more not listed; retrieve them via the Exa API.