Merrell v. Commissioner
United States Board of Tax Appeals
The petitioner and his two brothers were executors of the estate of their father, who died in 1909, and were also trustees and beneficiaries of a trust created by the will of their father. In 1919 they caused to be transferred to themselves as individuals the corporate stock comprising the corpus of the trust. Held, that the basis for gain or loss to the petitioner on the subsequent sale of his portion of the stock is the March 1, 1913, value thereof.
1Opinion of the Court
IRVING S. MERRELL, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Merrell v. Commissioner
Docket No. 70103.
United States Board of Tax Appeals
33 B.T.A. 1151; 1936 BTA LEXIS 774;
February 20, 1936, Promulgated
The petitioner and his two brothers were executors of the estate of their father, who died in 1909, and were also trustees and beneficiaries of a trust created by the will of their father. In 1919 they caused to be transferred to themselves as individuals the corporate stock comprising the corpus of the trust. Held, that the basis for gain or loss to the petitioner on the…
2Cases cited3 opinions
- Matheson v. CommissionerUnited States Board of Tax Appeals · 1934
- Merrell v. CommissionerUnited States Board of Tax Appeals · 1935
- Merrell v. CommissionerUnited States Board of Tax Appeals · 1936