ESTATE OF BASSICK v. COMMISSIONER

Docket Nos. 2978, 2979.

3 T.C.M. 1234 (1944)

Estate of W. R. Bassick, Deceased, Della W. Bassick, Executrix, v. Commissioner. Della W. Bassick v. Commissioner.

United States Tax Court.

Entered November 27, 1944.


Attorney(s) appearing for the Case

Stanley Pedder, Esq., 405 Montgomery St., San Francisco, Cal., for the petitioner. T. M. Mather, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined a deficiency of $1,519.38 in the income tax of W. R. Bassick for the year 1940 and a deficiency of $1,552.51 in the income tax of Della W. Bassick for the same year.

The sole issue is the correct determination of the value, if any, of 812½ shares of stock of the Hendy Realization Company received by W. R. Bassick as compensation for his services in connection with the reorganization of...

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