Fouke v. Commissioner
United States Board of Tax Appeals
Upon the evidence, held, that a transaction between the taxpayer and his wife, entered into in December, 1919, upon which a claim for a deductible loss is based, was not a bona fide sale.
1Opinion of the Court
*220OPINION.
James:
The question presented in this appeal is whether the taxpayer, in December, 1919, actually and in good faith sold 5,000 shares of stock of the International Fur Exchange, Inc., to his wife. There is no question that such a sale, if made in good faith, would be valid and would result in the loss claimed to have been sustained by the taxpayer. There is no substantial question as to the amount of the loss sustained, if there actually was one. The stock was transferred at the then market value.
While there is no question that husband and wife may contract with each other — may buy…
2Cited by13 opinions
- F. W. Drybrough v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1967
- Uihlein v. CommissionerUnited States Board of Tax Appeals · 1934
- Fisher v. CommissionerUnited States Board of Tax Appeals · 1934
- Peters v. CommissionerUnited States Board of Tax Appeals · 1933
- Commissioner of Internal Revenue v. NeavesCourt of Appeals for the Ninth Circuit · 1936
8 more not listed; retrieve them via the Exa API.