United States Board of Tax Appeals November 24, 1939, Docket No. 92788. (Van Vranken v. Commissioner)

lead-opinion

*957OPINION.

Van Fossan:

The question before the Board is whether the basis for determining gain or loss on sale of stocks which petitioner received by bequest of her father must be determined by their value at the time of his death or by their value at the time of distribution, after the death of her mother and the extinction of her life interest.