Ferrer v. Commissioner
United States Tax Court
1. Transfer of interest in literary property acquired by petitioner, an actor, prior to production as motion picture, held, on the facts, to give rise to capital gain notwithstanding the same contract with producer provided for petitioner's acting services. 2. Payment by petitioner on cash basis of prior years' foreign taxes and accrual of those for current year, held, both permissible as giving rise in same year to foreign tax credit pursuant to election conferred under…
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1. Transfer of interest in literary property acquired by petitioner, an actor, prior to production as motion picture, held, on the facts, to give rise to capital gain notwithstanding the same contract with producer provided for petitioner's acting services. 2. Payment by petitioner on cash basis of prior years' foreign taxes and accrual of those for current year, held, both permissible as giving rise in same year to foreign tax credit pursuant to election conferred under section 131, I.R.C. 1939.
1Opinion of the Court
OPINION.
Oppee, Judge:
Issue 1.
Without putting too fine a point upon it, it is clear that petitioner had acquired a beneficial interest of some nature in the book and play which later became “Moulin Rouge.”
Defendant * * * [the author] stresses the fact that all right, title and interest in the copyright were reserved to defendants by agreement. . However, it is the law that, though the title in the copyright of a play may be reserved to one of the parties, the exclusive licensee to present the play has an equitable interest therein. * * * [citations omitted]. Defendants here were trustees of…
2Cases cited13 opinions
- Commissioner of Internal Revenue v. Golonsky. Commissioner of Internal Revenue v. GoldCourt of Appeals for the Third Circuit · 1952
- Golonsky v. CommissionerUnited States Tax Court · 1951
- Holt v. CommissionerUnited States Tax Court · 1961
- Stern v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1943
- Carver v. CommissionerUnited States Tax Court · 1948
8 more not listed; retrieve them via the Exa API.
3Cited by58 opinions
- Commissioner of Internal Revenue v. José FerrerCourt of Appeals for the Second Circuit · 1962
- Computing & Software, Inc. v. CommissionerUnited States Tax Court · 1975
- Martin Ice Cream Co. v. Comm'rUnited States Tax Court · 1998
- Kingsbury v. CommissionerUnited States Tax Court · 1976
- Brown v. CommissionerUnited States Tax Court · 1963
53 more not listed; retrieve them via the Exa API.