St. Louis Union Trust Co. v. Commissioner

Board of Tax Appeals

St. Louis Union Trust Co. v. Commissioner

14 B.T.A. 323, 1928 BTA LEXIS 2994

CourtUnited States Board of Tax Appeals

DecidedNovember 16, 1928

DocketDocket No. 11032.

StatusPublished

Cited by1 cases

This text of 14 B.T.A. 323 (St. Louis Union Trust Co. v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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St. Louis Union Trust Co. v. Commissioner, 14 B.T.A. 323, 1928 BTA LEXIS 2994 (bta 1928).

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Opinion

[324]*324OPINION.

Siefkin :

In this proceeding the only dispute is about the cost of the stock sold in 1921. In 1902 the petitioner received the 500 shares in question, then worth $372 a share, in exchange for 500 shares of another stock, then worth $446 a share, and was paid $92 a share in addition.

In accordance with prior decisions of the Board we hold that the petitioner sustained a loss in 1921, using as a basis the market value of $446 per share for the 500 shares of stock of Union Trust Co. exchanged, reduced by $46,000 cash received.

Judgment will be entered under Rule 50.

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