Rose v. Commissioner
United States Tax Court
Taxpayer, upon reaching majority in 1937, brought suit for accounting against a bank, her former guardian and administrator of her father's estate, from which she received a distributive share.
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Taxpayer, upon reaching majority in 1937, brought suit for accounting against a bank, her former guardian and administrator of her father's estate, from which she received a distributive share. As a result of the litigation petitioner, in 1940, received $ 17,822.53, consisting of overcharge of commission by administrator and guardian of $ 611.43 and $ 446.77, respectively, interest on estate and guardianship funds during period of deposit in bank without investment of $ 3,268.59 and $ 6,495.11, plus interest on foregoing amounts to entry of judgment, and interest on amount of judgment and…
1Opinion of the Court
OPINION.
Van Fossan, Judge:
The Commissioner determined an income tax deficiency of $1,169.33 for the year 1940. The only question involved is whether the amount of $9,365.87, a part of the net amount of $11,-637.53 received by petitioner in 1940 as a result of a judgment, is a return of capital, as contended by petitioner, or income taxable in 1940, as contended by the respondent.
The petitioner, a resident of South Miami, Florida, filed her income tax return on the cash basis for the year 1940 with the collector for the district of Florida.
The petitioner was bom on April 28,1916, and became 21…
2Cases cited5 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Van Wart v. CommissionerSupreme Court of the United States · 1935
- Cleveland Adolph Mayer Realty Corp. v. CommissionerUnited States Tax Court · 1946
- Rose v. . BankSupreme Court of North Carolina · 1940
- Rose v. Bank of WadesboroSupreme Court of North Carolina · 1940
3Cited by6 opinions
- State Fish Corp. v. CommissionerUnited States Tax Court · 1967
- Commissioner of Internal Revenue v. Goldberger's Estate. Trounstine v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1954
- O'Brien v. CommissionerUnited States Tax Court · 1954
- O'Brien v. CommissionerUnited States Tax Court · 1954
- O'Brien v. CommissionerUnited States Tax Court · 1954
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