Arkansas Best Corp. v. Commissioner
| Arkansas Best Corp. v. Commissioner | |
|---|---|
| Argued December 9, 1987 Decided March 7, 1988 | |
| Full case name | Arkansas Best Corporation v. Commissioner of Internal Revenue |
| Citations | 485 U.S. 212 (more) 108 S. Ct. 971; 99 L. Ed. 2d 183 |
| Case history | |
| Prior | 83 T.C. 640 (1984); 800 F.2d 215 (8th Cir. 1986); cert. granted, 480 U.S. 930 (1987). |
| Holding | |
| Loss arising from sale of stock is capital loss, regardless of taxpayer's motive in purchasing the stock. | |
| Court membership | |
| |
| Case opinion | |
| Majority | Marshall, joined by unanimous |
| Kennedy took no part in the consideration or decision of the case. | |
| Laws applied | |
| Internal Revenue Code § 1221 | |
Arkansas Best Corporation v. Commissioner, 485 U.S. 212 (1988), is a United States Supreme Court decision that helps taxpayers classify whether or not the sale of an asset is an ordinary or capital gain or loss for income tax purposes.