Fawsett v. Commissioner
United States Board of Tax Appeals
In the taxable year petitioner ordered the sale of certain securities and at the same time, acting as agent for his wife, ordered the purchase of the same quantities of the same issues for the account of his wife; he also, as agent for his wife, ordered the sale of certain of her securities and at the same time ordered the purchase of the same quantities of the same issues for his own account.
Read the full summary
In the taxable year petitioner ordered the sale of certain securities and at the same time, acting as agent for his wife, ordered the purchase of the same quantities of the same issues for the account of his wife; he also, as agent for his wife, ordered the sale of certain of her securities and at the same time ordered the purchase of the same quantities of the same issues for his own account. The orders were executed through a brokerage house with which petitioner and his wife had substantial individual accounts and the transactions were reflected in their separate accounts. Held, the sales…
1Opinion of the Court
CHARLES F. FAWSETT, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Fawsett v. Commissioner
Docket No. 64474.
United States Board of Tax Appeals
31 B.T.A. 139; 1934 BTA LEXIS 1152;
September 5, 1934, Promulgated
In the taxable year petitioner ordered the sale of certain securities and at the same time, acting as agent for his wife, ordered the purchase of the same quantities of the same issues for the account of his wife; he also, as agent for his wife, ordered the sale of certain of her securities and at the same time ordered the purchase of the same quantities of the same issues for…
2Cases cited2 opinions
- Gummey v. CommissionerUnited States Board of Tax Appeals · 1932
- Fawsett v. CommissionerUnited States Board of Tax Appeals · 1934