United States Board of Tax Appeals May 11, 1928, Docket Nos. 10663, 13532, 13533. (Klamer-Goebel Furniture Co. v. Commissioner)

lead-opinion

*1324OPINION.

Love:

The first issue is a question of invested capital. In 1919, O. A. Klanier, then a director and the president of both petitioners and also of two other corporations, purchased at public auction certain land with a building thereon, and he immediately transferred a one-fourth interest in the same property to each of the petitioners, and the two other corporations