Florida State University Law Review

Article Title

Is Griggs Dead? Reflecting (Fearfully) on Wards Cove Packing Co. v. Atonio

Authors

Mack A. Player, Florida State University College of Law

Document Type

Article

Abstract

A shareholder's surrender of stock to a corporation for no consideration arguably results in a realized loss to the shareholder. But should that loss be recognized? The Supreme Court's decision in Fink v. Commissioner denied loss recognition for stock surrenders resulting in only a small reduction in a shareholder's percentage ownership in a corporation. While correct in result, the analytical basis for this decision is problematic and offers a unique opportunity to examine the basic issues of loss realization and recognition within the context of subchapter C of the Internal Revenue Code.

Recommended Citation

Mack A. Player, Is Griggs Dead? Reflecting (Fearfully) on Wards Cove Packing Co. v. Atonio, 17 Fla. St. U. L. Rev. 1 (1989) .
https://ir.law.fsu.edu/lr/vol17/iss1/1