Holding
The Supreme Court held that the $7,000 appreciation should count as gross income, as "the 'amount realized' from the exchange is the fair market value of the released marital rights, which in this case would be equal to the value of the stock transferred."
Read more about this topic: United States V. Davis
Famous quotes containing the word holding:
“I have often repented speaking, but never of holding my tongue.”
—Xenocrates (396–315 B.C.)
“But it is the same thing we are all seeing,
Our world. Go after it,
Go get it boy, says the man holding the stick.
Eat, says the hunger, and we plunge blindly in again,
Into the chamber behind the thought.”
—John Ashbery (b. 1927)
“The child hand raised to reach the holding hand. Hold the old holding hand. Hold and be held.”
—Samuel Beckett (1906–1989)