Case Name: HENRY J. MYERS, EXECUTOR OF THE ESTATE OF NATHANIEL MYERS, DECEASED, v. THE UNITED STATES
Court: United States Court of Claims
Jurisdiction: United States
Decision Date: 1931-06-01
Citations: 72 Ct. Cl. 214
Docket Number: No. K-308
Parties: HENRY J. MYERS, EXECUTOR OF THE ESTATE OF NATHANIEL MYERS, DECEASED, v. THE UNITED STATES
Judges: Williams, Judge, and Booth, Chief Justice, concur.
Reporter: United States Court of Claims Reports
Volume: 72
Pages: 214–228

Head Matter:
HENRY J. MYERS, EXECUTOR OF THE ESTATE OF NATHANIEL MYERS, DECEASED, v. THE UNITED STATES
[No. K-308.
Decided June 1, 1931]
Mr. Bernhard Knollenberg for the plaintiff.
Mr. Assistant Attorney General Charles B. Rugg for the defendant. Messrs. Charles R. Pollard and William T. Sabine, jr., were on the brief.

Opinion:
Whaley, Judge,
delivered the opinion:
The facts as found in this case are not disputed. In the case of Elmhirst, Executrix, v. United States, 69 C. Cls. 295, the court in construing section 202 (a) of the revenue act of 1918, 40 Stat. 1057, 1060, held the gain or loss arising from the sale of securities by an executor is, for income-tax purposes, to be computed on the basis of their cost to decedent and not on the basis of their value at the date of decedent's death. The question in this case is whether the value of decedent's- securities at time of death is their cost within the meaning of section 202 (a) and (b), revenue act of 1921, 42 Stat. 227, 229. The two sections, as to the point in issue, in substance, are the same and the decision in the Elmhirst case, supra, is controlling. Judgment is for the plaintiff. It is so ordered.
Williams, Judge, and Booth, Chief Justice, concur.