Haserot v. Commissioner
United States Tax Court
Petitioner controlled corporations H, N, and G. Petitioner transferred to H all of his N and G stock and received a cash credit of $ 64,850 plus stock of H worth $ 48,640. Held on remand, the distribution of $ 64,850 was essentially equivalent to a dividend.
1Opinion of the Court
Henry McK. Haserot and Bonnie C. Haserot, Petitioners, v. Commissioner of Internal Revenue, Respondent
Haserot v. Commissioner
Docket No. 93774
United States Tax Court
46 T.C. 864; 1966 U.S. Tax Ct. LEXIS 37;
September 30, 1966, Filed
Decision will be entered that there is a deficiency of $ 90 in petitioners' income tax for the taxable year 1958.
Petitioner controlled corporations H, N, and G. Petitioner transferred to H all of his N and G stock and received a cash credit of $ 64,850 plus stock of H worth $ 48,640. Held on remand, the distribution of $ 64,850 was essentially equivalent to a dividend.
2Cases cited37 opinions
- Church of the Holy Trinity v. United StatesSupreme Court of the United States · 1892
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Helvering v. HallockSupreme Court of the United States · 1940
- Bazley v. CommissionerSupreme Court of the United States · 1947
- Helvering v. Cement Investors, Inc.Supreme Court of the United States · 1942
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