Waldheim v. Commissioner
United States Tax Court
1. A corporation having net earnings during the taxable year made cash distributions to its stockholders pro rata. The corporation had a deficit at the beginning of the year and would still have had a deficit at the end of the year even if no distributions to stockholders had been made. The net earnings for the year exceeded the cash distributions.
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1. A corporation having net earnings during the taxable year made cash distributions to its stockholders pro rata. The corporation had a deficit at the beginning of the year and would still have had a deficit at the end of the year even if no distributions to stockholders had been made. The net earnings for the year exceeded the cash distributions. Held, that the distributions were dividends within the meaning of section 115 (a) (2) of the Internal Revenue Code of 1939 and taxable to the stockholders as such. 2. In 1945 Helen Bienenstok surrendered to the corporation stock having a basis to…
1Opinion of the Court
Stanley V. Waldheim, Petitioner, v. Commissioner of Internal Revenue, Respondent. Helen W. Bienenstok, Petitioner, v. Commissioner of Internal Revenue, Respondent. Stanley V. Waldheim and Eleanor R. Waldheim, Petitioners, v. Commissioner of Internal Revenue, Respondent
Waldheim v. Commissioner
Docket Nos. 31181, 36183, 36184, 34551
United States Tax Court
25 T.C. 839; 1956 U.S. Tax Ct. LEXIS 290;
January 23, 1956, Filed
Decisions will be entered under Rule 50.
1. A corporation having net earnings during the taxable year made cash distributions to its stockholders pro rata. The corporation had a…
2Cases cited7 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Willcuts v. Milton Dairy Co.Supreme Court of the United States · 1927
- Hadden v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1931
- Strake Trust v. CommissionerUnited States Tax Court · 1943
- Maguire v. CommissionerUnited States Tax Court · 1954
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