(1974)
John M. Abramson and Estate of Ilana Abramson, Deceased, John M. Abramson, Personal Representative v. Commissioner
This is a tax dispute case involving the investors who acquired the United States rights to the 1974 classic film ‘Swept Away’ directed by Lina Wertmüller. The case from the tax court lists some actual financial information pertaining to the movie’s distribution expenses.
The US/Canada theatrical and TV rights sold for $3,385,000
‘Swept Away’ would have to generate $9.4 million of distributor’s theatrical gross receipts to recoup.
‘Swept Away’ had earned $3,217,953 in box office receipts — $1,287,181 was returned to the distributor after theaters take their percentage.
Read the full court report below for further information.