United States Ninth Circuit
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