Case: Jennie L. Miller, Executrix, Estate of John L. Miller, Petitioner, v. Commissioner of Internal Revenue, Respondent
Abbreviation: Miller v. Commissioner
Decision Date: 1928-04-27
Docket Number: Docket No. 4397
Citation: 11 B.T.A. 854
Volume: 11
Reporter: Reports of the United States Board of Tax Appeals
Court: United States Board of Tax Appeals
Jurisdiction: United States
Parties: Jennie L. Miller, Executrix, Estate of John L. Miller, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Pages: 854–855

Head Matter:
Jennie L. Miller, Executrix, Estate of John L. Miller, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 4397.
Promulgated April 27, 1928.
Wm. T. Beehs, Esq., and T. E. Olay fool, Esq., for the petitioner.
Granville 3. Borden, Esq., for the respondent.

Opinion:
OPINION.
Lansdon :
The issue ag to whether the cost price or the value of the claims at the date of the death of petitioner's decedent should be made the basis for the computation of the gain or Loss must be decided adversely to the petitioner upon the principles laid down in our decision in Dorothy Payne Whitney Straight, 7 B. T. A. 177, and that of the United States District Court for the Southern District of New York in Bankers Trust Co. v. Bowers, 23 Fed. (2d) 941. Cf. Heiner v. Tindle, 275 U. S. 514.
We are of the opinion that in the computation of profit upon the sale the petitioner i/s entitled to credit for its expenditures consisting of recording fees $185.80, revenue stamps $75, care, etc. of papers in escrow $25, and attorneys' fees in connection with the sale $3,442.91, amounting in the aggregate to $3,728.77.
Judgment will be entered on 15 days' notice, under Bule 50.