Gunther v. Commissioner
United States Tax Court
Petitioners controlled corporations C and B. Petitioners transferred to C all of their B stock and received in return securities (11-year debentures) and C stock. Held, sec. 351, I.R.C. 1954, operates to preclude application of sec. 301 dividend treatment; under sec. 351(a), petitioners' gains on the transactions are not recognized. Haserot v. Commissioner, 41 T.C. 562 (1964), and 46 T.C. 864 (1966), affd. sub nom.
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Petitioners controlled corporations C and B. Petitioners transferred to C all of their B stock and received in return securities (11-year debentures) and C stock. Held, sec. 351, I.R.C. 1954, operates to preclude application of sec. 301 dividend treatment; under sec. 351(a), petitioners' gains on the transactions are not recognized. Haserot v. Commissioner, 41 T.C. 562 (1964), and 46 T.C. 864 (1966), affd. sub nom. Commissioner v. Stickney, 399 F.2d 828 (6th Cir. 1968), followed.
1Opinion of the Court
H. Dale Gunther and Marie M. Gunther, Gene W. Gunther and Lois H. Gunther, James L. Bjorkman and Penelope A. Bjorkman, Peter C. Gunther and Mary Lou Gunther, Donald S. Robinson and Pamela G. Robinson, Prudence G. Hillier, and Gary B. Gunther, Petitioners v. Commissioner of Internal Revenue, Respondent
Gunther v. Commissioner
Docket No. 11115-84
United States Tax Court
92 T.C. 39; 1989 U.S. Tax Ct. LEXIS 5; 92 T.C. No. 5;
January 19, 1989; As amended February 2, 1989 January 19, 1989, Filed
Decision will be entered for the petitioners.
Petitioners controlled corporations C and B. Petitioners…
Also in this document: Concurrence; Dissent.
2Cases cited40 opinions
- Tennessee Valley Authority v. HillSupreme Court of the United States · 1978
- Rosado v. WymanSupreme Court of the United States · 1970
- Watt v. AlaskaSupreme Court of the United States · 1981
- American Tobacco Co. v. PattersonSupreme Court of the United States · 1982
- United States v. GilmoreSupreme Court of the United States · 1963
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