Bingham v. Commissioner
United States Board of Tax Appeals
In respect of short sales of stock, gain or loss is ascertained by matching the short sale price against the cost of the covering purchase, even though the taxpayer at the same time maintains with the same broker a margin account containing similar shares previously purchased.
1Opinion of the Court
ROBERT W. BINGHAM, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bingham v. Commissioner
Docket No. 51051.
United States Board of Tax Appeals
27 B.T.A. 186; 1932 BTA LEXIS 1114;
November 29, 1932, Promulgated
In respect of short sales of stock, gain or loss is ascertained by matching the short sale price against the cost of the covering purchase, even though the taxpayer at the same time maintains with the same broker a margin account containing similar shares previously purchased.
Donald V. Hunter, Esq., for the petitioner.
J. E. Marshall, Esq., for the respondent.
STERNHAGEN
OPINION.
STE…
2Cases cited13 opinions
- Commissioner v. ConnellySupreme Court of the United States · 1949
- Provost v. United StatesSupreme Court of the United States · 1926
- Rosenthal v. BrownNew York Court of Appeals · 1928
- Bingham v. CommissionerUnited States Board of Tax Appeals · 1932
- Campbell v. . WrightNew York Court of Appeals · 1890
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