OPINION
SCHWARZER, Senior District Judge.
Section 165(g)(1) of the Internal Revenue Code provides that when a security held as a capital asset becomes worthless, the resulting loss may be treated as a capital loss. The question before us is whether shareholders who, after their shares in a bankrupt corporation are canceled, contribute capital to the corporation's reorganization and receive new shares in the reorganized corporation as a consequence of such...
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.
