Legal Opinion
Hewes v. Commissioner
United States Board of Tax Appeals
Decided November 9, 1925No. Docket No. 3859PublishedCited by 5 opinions
The value of the taxpayer's interest in a parcel of land as of March 1, 1913, determined.
1Opinion of the Court
*1282OPINION.
Marquette:
The question presented in this appeal is the fair market value of the taxpayer’s interest in the real estate oh March 1, 1913. Section 202(a) of the Revenue Act of 1918 provides:
That for .the purpose of ascertaining the gain derived or loss sustained from the sale or other disposition of property, real, personal, or mixed, the basis-shall be—(1) In the case of property acquired before March 1, 1913, the fair market price or value of such property as of that date; and(2) In the case of property acquired on or after that date, the cost thereof; * * *
That the title to the…
2Cases cited2 opinions
- Stearns Co. v. HewesSupreme Court of Pennsylvania · 1917
- Hewes v. MillerSupreme Court of Pennsylvania · 1916
3Cited by5 opinions
- Bank One Corp. v. Comm'rUnited States Tax Court · 2003
- Bank One Corp. v. Comm'rUnited States Tax Court · 2003
- Bank One Corporation v. CommissionerUnited States Tax Court · 2003
- Hewes v. CommissionerUnited States Board of Tax Appeals · 1925
- Vanderbilt Trust v. CommissionerUnited States Board of Tax Appeals · 1937