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Goodrich v. Edwards, 255 U.S. 527 (1921)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Goodrich v. Edwards, 255 U.S. 527 (1921)
Goodrich v. Edwards No. 663 Argued March 10, 11, 1921 Decided March 28, 1921 255 U.S. 527
ERROR TO THE DISTRICT COURT OF THE UNITED STATES
FOR THE SOUTHERN DISTRICT OF NEW YORK
Syllabus
1. Profit realized upon the sale of stocks held as an investment is income, and so much of it as accrued after March 1, 1913, is taxable under the Income Tax Laws of 1916, 1917, and the Sixteenth Amendment. P. 534. Merchants’ Loan & Trust Co. v. Smietanka, ante,509.
2. The statute imposes the income tax on the proceeds of a sale of personal property to the extent only that gains are derived therefrom by the vendor, and § 2(c) is applicable only where a gain over the original capital investment has been realized after March 1, 1913. P. 535.
Reversed in part, affirmed in part.
The case is stated in the opinion.
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Chicago: U.S. Supreme Court, "Syllabus," Goodrich v. Edwards, 255 U.S. 527 (1921) in 255 U.S. 527 255 U.S. 533. Original Sources, accessed June 2, 2024, http://www.originalsources.com/Document.aspx?DocID=UHZHZ1DVTFSZKGE.
MLA: U.S. Supreme Court. "Syllabus." Goodrich v. Edwards, 255 U.S. 527 (1921), in 255 U.S. 527, page 255 U.S. 533. Original Sources. 2 Jun. 2024. http://www.originalsources.com/Document.aspx?DocID=UHZHZ1DVTFSZKGE.
Harvard: U.S. Supreme Court, 'Syllabus' in Goodrich v. Edwards, 255 U.S. 527 (1921). cited in 1921, 255 U.S. 527, pp.255 U.S. 533. Original Sources, retrieved 2 June 2024, from http://www.originalsources.com/Document.aspx?DocID=UHZHZ1DVTFSZKGE.
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