Case law

Ewing v. Commissioner

91 T.C. 396 · United States Tax Court · Aug 30, 1988

If there is a gain in your long position, you should qualify for capital gains treatment by going short in the same delivery month. … Thus, petitioners’ transactions are clearly within the purview of section 6621(c).

Harold Patz Trust v. Commissioner

69 T.C. 497 · United States Tax Court · Dec 20, 1977

This they have failed to establish. … Krueger was a case where notice was clearly given and no notice of termination ever sent. The case was decided on those specific facts, and, additionally, involved a decedent’s estate rather than a trust.

Dees v. Comm'r

113 T.C.M. 3905 · United States Tax Court · Feb 2, 2017

There, the taxpayer, in seeking to establish jurisdiction, established that it was not misled. Likewise in Wilkens & Lange v. … Judge Ashford acknowledges that a purported notice of deficiency “might” be undone if it contained “a clearly contradictory statement”, see Ashford op. note 10; but nothing could more clearly contradict a notice of a “deficiency

Mulvaney v. Commissioner

52 T.C.M. 831 · United States Tax Court · Oct 20, 1986

In order to sustain their burden of proof with respect to the disputed charitable contribution, petitioners must establish, inter alia, that such contribution was made to an organization qualified under section 170(c)(2). … The record clearly indicates that petitioners did not ascertain the status of the Freedom Church as a qualified charitable organization prior to claiming the deduction here in dispute.

First Nat'l Bank v. Commissioner

88 T.C. 1069 · United States Tax Court · Apr 28, 1987

’s opinion, does clearly reflect income. … is to be on such basis as the Commissioner may prescribe as conforming to the best accounting practice in the trade or business and as most clearly reflecting income. 18 It is well established that section 446(b) and section

Atkinson v. Comm'r

110 T.C.M. 550 · United States Tax Court · Dec 9, 2015

Neither party presented expert testimony to establish whether the easement areas serve the purpose of preserving open space pursuant to section 170(h)(4)(A), either for scenic enjoyment or pursuant to a clearly delineated … Petitioners have failed to establish any clearly delineated governmental policies that apply to either easement area.

Hollman v. Commissioner

38 T.C. 251 · United States Tax Court · May 11, 1962

We think that petitioner has established his right to this exemption. A qualified ophthalmologist, who had examined petitioner, appeared as a witness. … The statutory definition was read to him, and he testified clearly that petitioner’s eye condition met the requirements of the statute.

Lester v. Commissioner

40 T.C. 947 · United States Tax Court · Sep 12, 1963

Respondent’s first argument is that General Auto’s business prior to the distribution was a single integrated business and that, while the statute is silent on the point, the regulations clearly require that there be more … Here we find that both activities conducted by General Auto qualify as business activities.

Capital One Fin. Corp. v. Comm'r

133 T.C. 136 · United States Tax Court · Sep 21, 2009

of the Secretary, does clearly reflect income. … However, if a taxpayer uses a method of accounting which clearly reflects income, the Commissioner is not authorized to adjust a taxpayer’s method of accounting to a method that may more clearly reflect income.

Considine v. Commissioner

74 T.C. 955 · United States Tax Court · Aug 4, 1980

As to the portion of the $20,000 payment which was intended to repay Tabor, it “is well established that payments to an organization which qualifies as a charity are deductible as a charitable contribution under section 170 … value of the “donation” clearly exceeds the benefit received, we see no reason for denying a charitable contribution deduction for that excess amount.

Read v. Commissioner

114 T.C. 14 · United States Tax Court · Feb 4, 2000

The judicially created primary-and-unconditional- obligation standard is well established in the tax law. … Blatt could have established that she made a transfer of property to a third party on behalf of Mr.

Marcello v. Commissioner

43 T.C. 168 · United States Tax Court · Nov 13, 1964

Three qualified experts testified during the course of the hearing with regard to the valuation of tract C. Two of the experts testified on behalf of petitioner and one expert on behalf of respondent. … This factor alone clearly shows that the notes had some fair market value.

Gallagher v. Commissioner

39 T.C. 144 · United States Tax Court · Oct 17, 1962

We think it follows that the distributions made by Delaware are governed by the rules established by section 346. … obligations which are transferred to stockholders in relation to their former holdings, so as to produce, for all practical purposes, the same result as a distribution of cash earnings of equivalent value, cannot obtain tax immunity

Zychinski v. Commissioner

60 T.C. 950 · United States Tax Court · Sep 20, 1973

“Making a market” in such securities meant that the company, as a qualified securities dealer, in accordance with the practices of the securities industry, had published and advertised in trade circles that it would buy or … We conclude that the test established is one which requires us to look only to the plain meaning of the words used to define the income, not to the activity required to produce it. * * * Petitioner also argues that, granted

Sbicca v. Commissioner

35 T.C. 96 · United States Tax Court · Oct 24, 1960

terms of decedent’s Will, being conditioned upon her being alive at the time of the entry of the Order of Final Distribution, is a terminable interest within the purview of Sections 812(e)(1)(B) and 812(e)(3) and does not qualify … establishes that under California law a gift conditioned upon survival of distribution is not an indefeasible interest.

Dean v. Commissioner

56 T.C. 895 · United States Tax Court · Jul 29, 1971

It is a principle designed to maintain the integrity of the courtroom as a place where certainty in disputed matters may once and for all be established. … On p. 9 of our Memorandum Findings of Fact and Opinion in the prior proceeding we clearly defined the contract we were interpreting as “the original document as amended.”

Title & Trust Co. v. Commissioner

58 T.C. 900 · United States Tax Court · Aug 28, 1972

Therefore the Florida statute prior to its amendment in 1965 did not authorize the creation of unearned-premium reserves for title insurance companies in Florida which would qualify under section 832(b) (4) as “unearned premiums … Despondent concedes that the amended statute clearly required reserve additions for 1965 and subsequent years to be returned to income.

Frankel v. Commissioner

3 T.C. 231 · United States Tax Court · Feb 9, 1944

In accordance with the will, the trustees named therein duly qualified as such and have administered its affairs according to the provisions thereof. … A widow who accepts the provisions- of her husband’s will and receives a part or all of the income from an established trust in lieu of her statutory rights was said by the Court to be “a beneficiary within the ambit of the

Zarin v. Commissioner

92 T.C. 1084 · United States Tax Court · May 22, 1989

The problem with this argument is that there are no such requirements in section 108(e)(5) and the regulations relied upon by respondent clearly do not apply. … There is nothing in the stipulated facts to establish petitioner’s solvency. It could be argued that respondent has failed to prove the inapplicability of sec. 108(a)(1).

Corkrey v. Commissioner

115 T.C. 366 · United States Tax Court · Oct 24, 2000

On November 30, 1990, the center established an account for petitioner for bis 1988 taxable year by preparing a substitute for return. … MacKay information clearly showing the discrepancy in wage income from the school. For nearly 4 years thereafter petitioner took no action to remedy the situation.