Supreme Court of the United States March 26, 1945, 534 (Estate of Putnam v. Commissioner)

Mr. Justice Reed

delivered the opinion of the Court.

This case brings here for review a judgment which applies Section 42, Revenue Act of 1938,

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so as to “accrue” corporate dividends on the date of their declaration rather than the later record or payment dates. The result is that the dividends are taxable as income to a decedent taxpayer instead of to his estate.