# Steadman v. Comm'r

> United States Tax Court · May 22, 1968 · 50 T.C. 369

URL: https://www.frixlaw.com/law-library/cases/4480991

## Case

- **Full name:** Charles W. and Dorothy F. Steadman v. Commissioner of Internal Revenue
- **Court:** United States Tax Court
- **Decided:** May 22, 1968
- **Citations:** 50 T.C. 369; 1968 U.S. Tax Ct. LEXIS 121
- **Precedential status:** Published
- **Opinion:** Concurrence by Fat
- **Judges:** Dawson,Fay,Simpson,Tannenwald,Drennen,Tietjens,Raum,Hoyt
- **Cited by:** 57 later opinions in the Frix Law Library

## Citator (automated)

- No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases.
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/4480991

## How later opinions describe it (automated extraction)

- holding that corporate stock was worthless even though the corporation held valuable assets because the taxpayer proved that corporate stock had no liquidating or potential future value
- noting that uncontroverted expert testimony that stock was worthless in a given year supported taxpayer’s worthless stock deduction

## Opinion text

Fat, /., concurring: I agree with Judge Simpson’s concurring opinion, but in choosing a year I would agree with the majority that the loss was properly allowable in 1962.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/4480991. Public record. Not legal advice.