Piper v. Commissioner
United States Board of Tax Appeals
1. Petitioner having sold property within the taxable year, receiving cash, a certified or cashier's check and a second mortgage in payment, must include the amounts of such cash and check in the computation of gain or loss therefrom, notwithstanding the check and cash so received were deposited in a banking institution that failed three days after such check was deposited and before she was able to withdraw and make use of the funds so deposited. 2. Id. - The respondent…
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1. Petitioner having sold property within the taxable year, receiving cash, a certified or cashier's check and a second mortgage in payment, must include the amounts of such cash and check in the computation of gain or loss therefrom, notwithstanding the check and cash so received were deposited in a banking institution that failed three days after such check was deposited and before she was able to withdraw and make use of the funds so deposited. 2. Id. - The respondent having used the face value of the mortgage received in the foregoing transaction, less 10 percent, in the determination of…
1Opinion of the Court
LILLIAS PIPER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Piper v. Commissioner
Docket No. 52731.
United States Board of Tax Appeals
32 B.T.A. 142; 1935 BTA LEXIS 990;
February 26, 1935, Promulgated
1. Petitioner having sold property within the taxable year, receiving cash, a certified or cashier's check and a second mortgage in payment, must include the amounts of such cash and check in the computation of gain or loss therefrom, notwithstanding the check and cash so received were deposited in a banking institution that failed three days after such check was deposited and before…
2Cases cited1 opinion
- Piper v. CommissionerUnited States Board of Tax Appeals · 1935