Taft v. Commissioner
United States Board of Tax Appeals
In computation of gain from the sale of stock passing by general bequest the "time of the distribution" under section 113(a)(5), Revenue Act of 1928, held to be the time of actual transfer to distributee rather than the date of a court authorization of partial distribution, because under the Ohio probate law the court order itself effected no segregation or distribution of assets.
1Opinion of the Court
ROBERT A. TAFT, TRUSTEE UNDER LAST WILL AND TESTAMENT OF CHARLES PHELPS TAFT, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Taft v. Commissioner
Docket No. 76813.
United States Board of Tax Appeals
34 B.T.A. 603; 1936 BTA LEXIS 671;
May 27, 1936, Promulgated
In computation of gain from the sale of stock passing by general bequest the "time of the distribution" under section 113(a)(5), Revenue Act of 1928, held to be the time of actual transfer to distributee rather than the date of a court authorization of partial distribution, because under the Ohio probate law the court…
2Cases cited23 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Freuler v. HelveringSupreme Court of the United States · 1934
- Johnson v. Manhattan Railway Co.Supreme Court of the United States · 1933
- Fauntleroy v. LumSupreme Court of the United States · 1908
- Magruder v. DrurySupreme Court of the United States · 1914
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