Squire v. Capoeman/Dissent Reed

by Stanley Forman Reed

United States Supreme Court

351 U.S. 1

Squire  v.  Capoeman

 Argued: Jan. 19, 1956. --- Decided: April 23, 1956

Mr. Justice REED, dissenting.

My view is that the sale price of the timber in excess of its market value on March 1, 1913, was a capital gain, subject to federal income tax. Jones v. Taunah, 10 Cir., 186 F.2d 445. Cf. Choteau v. Burnet, 283 U.S. 691, 51 S.Ct. 598, 75 L.Ed. 1353; Superintendent of Five Civilized Tribes, etc. v. Commissioner of Internal Revenue, 295 U.S. 418, 55 S.Ct. 820, 79 L.Ed. 1517. The gain is taxable income like the value of annual crops.

Mr. Justice HARLAN took no part in the consideration or decision of this case.

Notes