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Just before New Year’s Eve 2011 the Tenth Circuit affirmed the Tax Court’s ruling against the taxpayer Anschutz Company in a case involving a variable prepaid forward contract
In 2000, the Anschutz Company (the “Taxpayer”) held appreciated publicly traded stock (through a qualified subchapter S subsidiary) that it wanted to monetize without triggering taxable gain, while simultaneously protecting itself from any future declines in the price of such stock
