Graeper v. Commissioner
United States Board of Tax Appeals
1. Petitioner and his wife, living in Oregon, owned a business as equal partners. Later the business was incorporated, three other persons acquiring stock. No stock was issued to petitioner's wife, the shares representing her interest being held by the husband in his own name, at her request. She did not transfer her interest to him.
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1. Petitioner and his wife, living in Oregon, owned a business as equal partners. Later the business was incorporated, three other persons acquiring stock. No stock was issued to petitioner's wife, the shares representing her interest being held by the husband in his own name, at her request. She did not transfer her interest to him. Held, the petitioner owned only one-half the stock issued in his name and is taxable upon only one-half the profits from its sale. 2. Petitioner and his wife each owned one-half interest in certain corporate stock, but most of the stock stood in petitioner's…
1Opinion of the Court
W. A. GRAEPER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Graeper v. Commissioner
Docket No. 46619.
United States Board of Tax Appeals
27 B.T.A. 632; 1933 BTA LEXIS 1339;
January 31, 1933, Promulgated
1. Petitioner and his wife, living in Oregon, owned a business as equal partners. Later the business was incorporated, three other persons acquiring stock. No stock was issued to petitioner's wife, the shares representing her interest being held by the husband in his own name, at her request. She did not transfer her interest to him. Held, the petitioner owned only one-half the stock…
2Cases cited1 opinion
- Graeper v. CommissionerUnited States Board of Tax Appeals · 1933