Kelleher

I dissent.

It is true that there are no sufficient findings designated as formal “Findings of Fact.” However, we may look to the opinion of the board for such findings. California Iron Yards Co. v. Commissioner, 9 Cir., 47 F.2d 514, 518 ; Commissioner v. Crescent Leather Co., 1 Cir., 40 F.2d 833, 834 ; Sheppard & Myers, Inc., v. Commissioner, 3 Cir., 45 F.2d 50, 51 ; Olson v. Commissioner, 7 Cir., 67 F.2d 726, 728 . The board in its opinion determined and found:

“The only question is ¡whether the amount determined by the respondent from the sales of both the 6,071 shares and the 300 shares was income in such taxable period [January 1, to February 20, 1929] * * * The petitioner concedes that sales of the new stock were made during the period, but contends that the sales by the bank were a part of the plan or transaction which was not completed prior to February 20, 1929. In any event we are satisfied that the sale of the new stock had been completed. The purchase price had been received by the bank and interim certificates had been delivered prior to the death of the decedent * * *

“The bank received payment for all shares sold prior to the death of the decedent. The payments…

Daniel Kelleher (hereafter called decedent) died on February 20, 1929. As executor of decedent’s last will, petitioner, Campbell Kelleher, filed an income tax return for the period January 1, 1929, to February 20, 1929 (hereafter called the taxable period). Upon auditing this return, respondent, the Commissioner of Internal Revenue, determined that there was a deficiency of $25,045.90 in respect of decedent’s tax, and so notified petitioner. Petitioner applied to the Board of Tax Appeals for a redetermination of the alleged deficiency. The Board sustained respondent’s determination. Petitioner seeks reversal.

Respondent claimed that on January 1, 1929, decedent and his wife, residents of Washington, owned 6,371 shares of Seattle National Bank stock, all of which were community property; 1 that 300 of the 6,371 shares were acquired in 1928 at a cost of $20,644.85; that the other 6,071 shares were acquired prior to 1927 at a cost of $215,980.50; that decedent, within the taxable period, sold the 6,371 shares and received in payment’therefor $100 a share, thus receiving for the 300 shares $30,000, and for the 6,071 shares $607,100; that decedent and his wife thereby realized a net…