United States Ninth Circuit

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Dorrance v. US, 13-16548

In a tax action, the district court's order of a partial-refund is reversed where taxpayers who sell stock obtained through demutualization of mutual life insurance companies cannot claim a basis in the proceeds of that sale for tax purposes because they had zero basis in the mutual rights extinguished as part of demutualization.

Appellate Information

  • Decided
  • Published 2015/12/30

Judges

  • MCKEOWN

Court

  • United States Ninth Circuit

Counsel


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