HUDSPETH v. UNITED STATES

No. 72-1106.

471 F.2d 275 (1972)

Edwin W. HUDSPETH and Maxine G. Hudspeth, Plaintiffs-Appellees, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Eighth Circuit.

Decided December 21, 1972.


Attorney(s) appearing for the Case

Carleton D. Powell, Atty., Tax Div., Dept. of Justice, Washington, D. C., for defendant-appellant.

Charles H. Shaffar, St. Ann, Mo., for plaintiffs-appellees.

Before LARAMORE, United States Court of Claims Senior Judge, and BRIGHT and ROSS, Circuit Judges.


LARAMORE, Senior Judge.

This appeal presents the question of whether the taxpayer was entitled to exclude from his gross income the liquidation dividends on stock which he donated to various tax-exempt organizations before actual payments of proceeds were received but after the shareholders had fully adopted a plan of complete liquidation and the corporation had sold its principal assets.

The taxpayer, Edwin W. Hudspeth,1 owned...

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