Capital gains treatment is denied by section 1239 of the Internal Revenue Code of 1954, 26 U.S.C.A. § 1239, to profits from the sale of depreciable property when sold by a taxpayer to a corporation of which more than 80% of the value of the stock is held by the taxpayer, his spouse, and his minor children and grandchildren. The question presented here is whether corporate stock, held by a bank...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.