Bishop v. Commissioner
United States Tax Court
Held, that one-half of the loss sustained upon the sale, in the course of administration, of securities acquired since 1927 and owned as community property in California is not deductible in the return of the surviving spouse. Commissioner v. Larson, 131 Fed. (2d) 85; Estate of James F. Waters, 3 T. C. 407, followed.
1Opinion of the Court
opinion.
ARUNdell, Judge:
The basic issue in this case presents a clear-cut question whether one-half of the loss upon the sale of community property acquired since 1927 in California while the estate of the husband is in the process of administration can be taken as a deduction by the surviving spouse.
While the precise question presented for decision has not been directly decided by the Ninth Circuit Court of Appeals, we think that the court’s decision in Commissioner v. Larson, 131 Fed. (2d) 85, would require an answer contrary to petitioner’s contention. In that case the ;-.ourt had under…
2Cases cited2 opinions
- Helvering v. StuartSupreme Court of the United States · 1942
- Waters v. CommissionerUnited States Tax Court · 1944
3Cited by15 opinions
- Bishop v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1945
- Caratan v. CommissionerUnited States Tax Court · 1950
- Estate of Skaggs v. CommissionerUnited States Tax Court · 1980
- Blackburn v. CommissionerUnited States Tax Court · 1948
- Grimm v. CommissionerUnited States Tax Court · 1987
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