Childs v. Commissioner
United States Board of Tax Appeals
CAPITAL GAIN. - Gain realized on the redemption in 1933 of preferred stock which had been held by the petitioner for more than two years, held to be capital gain. William C. Rands,34 B.T.A. 1107, overruled in so far as it treats as ordinary income the gain on redemption of stock constituting a capital asset.
1Opinion of the Court
MARY S. CHILDS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Childs v. Commissioner
Docket No. 84497.
United States Board of Tax Appeals
35 B.T.A. 1125; 1937 BTA LEXIS 796;
May 14, 1937, Promulgated
CAPITAL GAIN. - Gain realized on the redemption in 1933 of preferred stock which had been held by the petitioner for more than two years, held to be capital gain. William C. Rands,34 B.T.A. 1107, overruled in so far as it treats as ordinary income the gain on redemption of stock constituting a capital asset.
Charles H. Buckley, Esq., and George Link, Jr., Esq., for the petitioner.
J. R.…
2Cases cited1 opinion
- Childs v. CommissionerUnited States Board of Tax Appeals · 1937