Theophilos v. Commissioner

Full Text of Court Cases
May 31, 1996
6091 Nondeposit Trust Facilities
523991 Trust, Fiduciary, and Custody Activities
federal taxation
fair market value (FMV), income tax

Theophilos v. Commissioner
85 F.3d 440, 1996 U.S. App. LEXIS 12549
Federal Court
9th Circuit
United States Court of Appeals


Issue was whether the property received by the taxpayer was stock aquired in a closely held company or the contract to acquire the stock at a later time.

See Also

Effective Date of Critical to Valuation of Stock

This case involves a claim by the Commissioner that taxpayer is liable for income tax on the difference between the price paid for stock and its fair market value under § 83(a) of the Internal Revenue Code.

Theophilos v. Commissioner

At issue in this case was whether the taxpayer acquired a beneficial interest in the closely held corporation of his former employer and whether full value was paid for the 40% minority interest in nonvoting common stock.