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Gitlitz v. Commissioner

Docket No.: 99-1295
Argued: October 2, 2000
Decided: January 20, 2001

Topics:

Internal Revenue Code, Federal Taxation, Federal Taxation, Arbitration, Bankruptcy, Internal Revenue Code, National Labor Relations Act, preemption

Petitioner: Gitlitz
Respondent: Commissioner

Court Below: THE UNITED STATES COURT OF APPEALS FOR THE TENTH CIRCUIT
Citation: 182 F.3d 1143
Lower Court Decision
Supreme Court Docket


531 U.S. 206 (2001)
Question:

Does the Internal Revenue Code permit taxpayers to increase bases in their S corporation stock by the amount of an S corporation's discharge of indebtedness excluded from gross income? If the Code permits such an increase, does the increase occur before taxpayers are required to reduce the S corporation's tax attributes?

Gitlitz v. Commissioner
ORAL ARGUMENT

October 02, 2000

Holding: reversed
Decision: Decision: 8 votes for Gitlitz, 1 vote(s) against
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