Gitlitz v. Commissioner
2001 United States Supreme Court case / From Wikipedia, the free encyclopedia
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Gitlitz v. Commissioner, 531 U.S. 206 (2001), was a United States Supreme Court case decided in 2001. The case concerned a technical question of tax law dealing with the tax attributes of an S corporation.
Quick Facts Gitlitz v. Commissioner, Argued October 2, 2000 Decided January 9, 2001 ...
Gitlitz v. Commissioner | |
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Argued October 2, 2000 Decided January 9, 2001 | |
Full case name | David A. Gitlitz, ex ux., et al. v. Commissioner of Internal Revenue |
Citations | 531 U.S. 206 (more) 121 S. Ct. 701; 148 L. Ed. 2d 613 |
Case history | |
Prior | Winn v. Comm'r, 75 T.C.M. (CCH) 1840 (T.C. 1998); aff'd sub nom. Gitlitz v. Comm'r, 182 F.3d 1143 (10th Cir. 1999); cert. granted, 529 U.S. 1097 (2000). |
Subsequent | On remand, 6 F. App'x 770 (10th Cir. 2001). |
Holding | |
The Internal Revenue Code permits taxpayers to increase bases in their S corporation stock by the amount of an S corporation's discharge of indebtedness excluded from gross income and the increase occurs before taxpayers are required to reduce the S corporation's tax attributes. | |
Court membership | |
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Case opinions | |
Majority | Thomas, joined by Rehnquist, Stevens, O'Connor, Scalia, Kennedy, Souter, Ginsburg |
Dissent | Breyer |
Laws applied | |
Internal Revenue Code |
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