Fleming v. Comm'r

8 Cited authorities

Eisner v. Macomber
252 U.S. 189 (1920) Cited 732 times 10 Legal Analyses
Holding that income is not realized unless it “is available for actual distribution”
Irwin v. Gavit
268 U.S. 161 (1925) Cited 204 times
Rejecting concerns about "where to draw the line" because "[t]hat is the question in pretty much everything worth arguing in the law"
Von Baumbach v. Sargent Land Co.
242 U.S. 503 (1917) Cited 184 times
In Von Baumbach v. Sargent Land Co., 242 U.S. 503, we considered mining leases like those now before us and pointed out that under the Minnesota decisions their avails are regarded as rents and profits of the land, "the compensation which the occupier pays the landlord for the species of occupation which the contract between them allows."
Merchants' L. T. Co. v. Smietanka
255 U.S. 509 (1921) Cited 136 times
In Merchants' Loan and Trust Co. v. Smietank, 255 U.S. 509, 41 S.Ct. 386, 65 L.Ed. 751, 15 A.L.R. 1305, the same rule was applied in cases where the profits were realized from a sale or conversion by a non-trader in a single isolated transaction, as well as cases where the profits were realized from sales or conversions by one engaged in buying and selling as a business.
Stratton's Independence v. Howbert
231 U.S. 399 (1913) Cited 134 times 1 Legal Analyses
In Stratton's Independence, Ltd. v. Howbert, 231 U.S. 399, 415, 34 S.Ct. 136, 140, 58 L.Ed. 285 (1913), the Court did define income as gain derived from labor.
Smietanka v. First Trust Savgs. Bank
257 U.S. 602 (1922) Cited 50 times
Interpreting a provision of the Income Tax Law of 1913 relating to the taxation of income held and accumulated by a trustee for the benefit of unborn and unascertained persons
Gibbons v. Mahon
136 U.S. 549 (1890) Cited 130 times
In Gibbons v. Mahon, 136 U.S. 549, 559, 565, in determining whether a stock dividend accrued to the tenant for life under a trust estate, this Court said: "A stock dividend really takes nothing from the property of the corporation, and adds nothing to the interests of the shareholders.
Matter of Chapman
32 Misc. 187 (N.Y. Surr. Ct. 1900) Cited 17 times
In Matter of Chapman (32 Misc. 187, affd. 59 A.D. 624, affd. 167 N.Y. 619, supra) the trust asset was unique in character, being an undivided minor interest in a freight boat.

Fleming v. Comm'r

8 Cited authorities

Holding that income is not realized unless it “is available for actual distribution”

Rejecting concerns about "where to draw the line" because "[t]hat is the question in pretty much everything worth arguing in the law"

In Stratton's Independence, Ltd. v. Howbert, 231 U.S. 399, 415, 34 S.Ct. 136, 140, 58 L.Ed. 285 (1913), the Court did define income as gain derived from labor.

Interpreting a provision of the Income Tax Law of 1913 relating to the taxation of income held and accumulated by a trustee for the benefit of unborn and unascertained persons

In Gibbons v. Mahon, 136 U.S. 549, 559, 565, in determining whether a stock dividend accrued to the tenant for life under a trust estate, this Court said: "A stock dividend really takes nothing from the property of the corporation, and adds nothing to the interests of the shareholders.

In Matter of Chapman (32 Misc. 187, affd. 59 A.D. 624, affd. 167 N.Y. 619, supra) the trust asset was unique in character, being an undivided minor interest in a freight boat.