Rodman v. Commissioner
United States Tax Court
Petitioner owned oil-producing properties and nonproducing properties. Petitioner also owned 100 percent of the stock of Petroleum and 80 percent of the stock of Oil. According to a prearranged plan, petitioner transferred his producing and nonproducing properties to Petroleum for additional stock of Petroleum.
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Petitioner owned oil-producing properties and nonproducing properties. Petitioner also owned 100 percent of the stock of Petroleum and 80 percent of the stock of Oil. According to a prearranged plan, petitioner transferred his producing and nonproducing properties to Petroleum for additional stock of Petroleum. Thereafter, petitioner and the 20-percent owners of Oil exchanged all of their stock in Petroleum and Oil for stock of Reading & Bates, an unrelated publicly held corporation. Petitioner conceded that his transfer of properties to Petroleum should be treated as a taxable sale to…
1Opinion of the Court
E. G. Rodman and Fay L. Rodman, Petitioners v. Commissioner of Internal Revenue, Respondent
Rodman v. Commissioner
Docket No. 5251-69
United States Tax Court
57 T.C. 113; 1971 U.S. Tax Ct. LEXIS 37; 41 Oil & Gas Rep. 256;
October 21, 1971, Filed
Decision will be entered under Rule 50.
Petitioner owned oil-producing properties and nonproducing properties. Petitioner also owned 100 percent of the stock of Petroleum and 80 percent of the stock of Oil. According to a prearranged plan, petitioner transferred his producing and nonproducing properties to Petroleum for additional stock of Petroleum.…
2Cases cited6 opinions
- Cook v. TaitSupreme Court of the United States · 1924
- Philadelphia Park Amusement Co. v. United StatesUnited States Court of Claims · 1954
- Bar L Ranch, Inc., and in Intervention-Appellant v. Robert L. Phinney, United States of America, in Intervention-AppelleeCourt of Appeals for the Fifth Circuit · 1970
- Dellinger v. CommissionerUnited States Tax Court · 1959
- Estate of Mundy v. CommissionerUnited States Tax Court · 1961
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