WINTER, Circuit Judge:
At issue in this case is the proper federal income tax treatment to be afforded the lump-sum distribution received by an employee in liquidation of an employee profit-sharing plan. The district court held that the distribution was taxable as a long-term capital gain. We conclude, however, that the distribution was properly treated as ordinary income rather than as capital gain, and we therefore reverse.
I.
The suit is one for...
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.