Case law

Puckett v. Commissioner

56 T.C. 1092 · United States Tax Court · Aug 19, 1971

In my opinion, the record clearly reveals that petitioner sought the military service at Fort Knox, “to qualify for promotion” (Jt. … Eather, he chose to engage in a tour of duty at the Reserve Officers Training School at Fort Knox in order that he might “qualify for promotion.”

Leleux v. Commissioner

54 T.C. 408 · United States Tax Court · Mar 5, 1970

Section 302(d) provides that redemp-tions which fail to qualify as exchanges will be treated as a distribution of property to which section 301 applies. Dividends are included m gross income under section 301 (c) (1). … In short, the Steps of the plan must be clearly integrated. Jackson Howell, supra. We have found that the petitioner in the instant case has failed to prove the existence of such a plan.

Tennessee Consol. Coal Co. v. Commissioner

15 T.C. 424 · United States Tax Court · Oct 10, 1950

As to any particular miner, as we interpret the contract, he (the miner) has not established any right to any part of his vacation pay until he has completely complied with every part of the contract. … calculate the liability, but in the instant case vital facts remained to be determined, i. e., how many of the miners, if any, would qualify for vacation payments on the date of the proposed payment, and how much it would

Kress v. Commissioner

40 T.C. 142 · United States Tax Court · Apr 25, 1963

It seems to us to follow that the store sites, for which the Ellis and O’Farrell cash became directly or indirectly available, were clearly acquired upon threat of condemnation for the purpose of replacing the lost property … It intended to build a large retail establishment.

New York Sun, Inc. v. Commissioner

27 T.C. 319 · United States Tax Court · Nov 26, 1956

contention was there made, as is made in the instant case, that the membership lost all of its value by virtue of changes in the bylaws voluntarily made by the AP, not required by the Supreme Court decision, which granted to any qualified … The petitioner has cited cases in which losses have been allowed on account of worthlessness of assets used ip business, but in each case it was clearly shown that the assets had lost their useful value in the business.

Perry v. Commissioner

63 T.C.M. 2924 · United States Tax Court · May 5, 1992

Petitioner bears the burden of establishing that each element has been satisfied. . Respondent contends that *284 petitioner has not established that the deductions claimed by Mr. … Petitioner clearly satisfies this requirement as the understatement in this case exceeds $ 12,000.

Waters v. Commissioner

62 T.C.M. 778 · United States Tax Court · Sep 23, 1991

Neither the term of, nor the interest rate due, on Equitable's bank loan is established in the record. … If money has been borrowed and is used in the activity, such money or loan proceeds may qualify under the at-risk rules, but interest on the associated debt does not qualify until it is paid. Porreca v.

Estate of Edmonds v. Commissioner

72 T.C. 970 · United States Tax Court · Aug 29, 1979

Respondent claims that the interest bequeathed was a terminable interest and therefore does not qualify for the marital deduction. … The life estate is clearly a terminable interest. Sec. 20.2056(b)-l(b), Estate Tax Regs.

Weigl v. Commissioner

84 T.C. 1192 · United States Tax Court · May 30, 1985

Section 421 provides special tax treatment for certain qualifying options granted to employees; however, no provision is made for options, such as the warrants herein, which do not so qualify. … Clearly, the distinction made in section 1.421-6, Income Tax Regs., between options with and without a "readily ascertainable fair market value” was derived from this language in LoBue.

Realty Loan Corp. v. Commissioner

54 T.C. 1083 · United States Tax Court · May 25, 1970

Wtóle a capital asset is defined in § 117(a)(1) as ‘property field by tfie taxpayer,” it is evident that not everything whiteh can he called property in the ordinary sense and which is outside tfie statutory exclusions qualifies … Respondent does not contend that the transaction here involved was not a “casual sale” and the facts clearly support the conclusion that it was a “casual sale.”

Estate of Gooel v. Commissioner

68 T.C. 504 · United States Tax Court · Jul 18, 1977

the death of decedent’s wife, in the event that she predeceased decedent, or if she elected not to take under the will, the corpus of the trust was to be distributed to various charitable institutions, all of which are qualified … The decided cases clearly establish the principle that, in cases such as this, the calculation as to the possibility and extent of invasion is not limited to Frances’ life expectancy.

Horton v. Commissioner

100 T.C. 93 · United States Tax Court · Feb 9, 1993

Petitioners must meet both requirements to qualify for the exclusion. The Supreme Court’s opinion in United States v. … The Supreme Court’s analysis establishes that punitive damages are not merely an incidental result of a personal injury claim as suggested by the Fourth Circuit.

Gokey Properties, Inc. v. Commissioner

34 T.C. 829 · United States Tax Court · Aug 12, 1960

Respondent, on brief, argues “thin capitalization” and seeks to establish an unfavorable debt-equity ratio. … However, in view of other factors clearly indicating that the bonds did not constitute a genuine indebtedness, we deem it unnecessary to consider this argument. . Decision will be entered for the respondent.

Estate of Posen v. Commissioner

75 T.C. 355 · United States Tax Court · Dec 10, 1980

In numerous cases, however, this line is not so clearly drawn. The responsibilities of a legal representative in handling the administration of an estate are mixed. … Clearly, then, the sale was necessarily incurred in administering the estate. 2 That the sale also benefited the sole heir should not defeat the deductibility of the selling expenses.

Mathis v. Commissioner

19 T.C. 1123 · United States Tax Court · Mar 25, 1953

The property was distributed to the directors of the Company, who were Sherman and the two qualifying shareholders, as trustees under *1125 the laws of Alabama. … In the instant case, however, the evidence establishes that the two transactions were not steps in one over-all preconceived plan.

Whistleblower 22716-13W v. Comm'r

146 T.C. 84 · United States Tax Court · Mar 14, 2016

Where Congress uses a term of art that has acquired an established meaning over a long period, Congress presumably intends that meaning when it uses that term. See, e.g., Morissette v. … Congress clearly knows how to create such links when it intends to do so. For whatever reason, it did not create links of the sort petitioner desires between subsection (b)(5) and the rest of the statute.

Estate of Klosterman v. Commissioner

99 T.C. 313 · United States Tax Court · Sep 10, 1992

Decedent’s 369 acres did not qualify for exclusion from either irrigation district under any of those grounds on the date of his death. … This regulation clearly requires the amounts paid by the tenant to the landowner in respect of the operation and maintenance assessments paid by the landowner to be included in the annual gross cash rental.

SoRelle v. Commissioner

22 T.C. 459 · United States Tax Court · Jun 7, 1954

C. 1 , we said: This is not a case in which the* Commissioner has attempted to change a long established and consistently used method of accounting on the ground that it does not clearly reflect income or on any other ground … A. § 41, to approve a method which would clearly reflect the income of the taxpayer.

Rude v. Commissioner

48 T.C. 165 · United States Tax Court · May 16, 1967

She argues that the language of the property settlement agreement clearly supports this contention. … Only a bona fide debt qualifies for purposes of section 166.

United States Holding Co. v. Commissioner

44 T.C. 323 · United States Tax Court · Jun 9, 1965

Therefore, subsection (c) was written into the section to clearly establish that in certain situations section 337 (a) was either not applicable or applicable to a limited extent. … However, gam under the section can qualify for nonrecognition. If a gain which is not recognized is used to eliminate a fully recognizable loss, this would be tantamount to affording nonrecognition to losses.