Case law

Recklitis v. Commissioner

91 T.C. 874 · United States Tax Court · Nov 7, 1988

Our prior findings in this case clearly and convincingly establish the existence of an underpayment in each of the years at issue. … Having considered all of the evidence before us, we conclude respondent has clearly and convincingly established fraud under section 6653(b) in each year at issue. In Bradford v.

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.

Paccar, Inc. v. Commissioner

85 T.C. 754 · United States Tax Court · Nov 13, 1985

It is clearly established that one of the indicia of ownership is the right to dispose of property. … Petitioner has not, however, established the added cost of marketing abroad and maintaining a selling staff in foreign nations.

Fulkerson v. Commissioner

59 T.C.M. 784 · United States Tax Court · Jun 4, 1990

The Form 1099 indicated that the entire amount of dividends were "dividends qualifying for exclusion." … The June 5, 1989, letter, however, clearly referenced the attached Form 1099.

USAA Life Ins. Co. v. Commissioner

94 T.C. 499 · United States Tax Court · Mar 26, 1990

The States, consistent with this regulatory function, establish requirements for minimum reserves. … Petitioner is clearly correct that cash surrender values differ conceptually from net level reserves.

Yanow v. Commissioner

44 T.C. 444 · United States Tax Court · Jun 24, 1965

Thus tbe burden is squarely upon tbe taxpayer to bring bimself clearly within tbe statutory provisions authorizing tbe claimed deduction. Belser v. Commissioner, 174 F. 2d 386 (C.A. 4, 1949). … To qualify as a “trade or business” within tbe purview of the statute, petitioner’s rental activities must have been entered into and carried on in good faith for tbe purpose of making a profit.

Myers v. Commissioner

11 T.C. 447 · United States Tax Court · Sep 28, 1948

This case, therefore, clearly presents such a division of services as Judge Hand referred to in the Smart case, supra. … domicile in New York, nor established a new one in [Seattle].

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.

Odujinrin v. Comm'r

108 T.C.M. 441 · United States Tax Court · Oct 9, 2014

This credit or grant, which was effective for 2009, was computed as 50% of a taxpayer’s “qualified investment” for such taxable year in a qualifying project. … While petitioner clearly had to travel to discharge his duties as a locum tenens physician, he admitted that the hospitals with which he was affiliated reim- bursed his travel expenses.

James Armour, Inc. v. Commissioner

43 T.C. 295 · United States Tax Court · Dec 4, 1964

If such unneeded assets had been distributed to the petitioners prior to the transfer of the essential assets to Excavating there clearly would be no question that substantially all of Armour, Inc.’s assets were acquired … While the Cassatt case does establish such a general rule, we cannot agree that it has been shown that that principle applies in the instant case.

Grieb v. Commissioner

36 T.C. 156 · United States Tax Court · Apr 26, 1961

At all times pertinent hereto, petitioner owned .all of the outstanding stock of the company, with the exception of 2 qualifying shares, and. was its president and one of its directors. … Priority established.

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.

Estate of Gerard v. Commissioners

57 T.C. 749 · United States Tax Court · Mar 13, 1972

At that time, Ennis qualified and elected to be taxed as a “small business corporation” within the provisions of subchapter S of the Internal Eevenue Code of 1954. … In establishing this arrangement, First National Bank required personal guarantees of Yellowstone’s obligation by both Sumner Gerard, Jr., and Mr. Young up to $200,000, respectively.

Rotolo v. Commissioner

88 T.C. 1500 · United States Tax Court · Jun 22, 1987

However, it is a well-established principle that the Commissioner cannot require a taxpayer to change from an accounting method which clearly reflects income because the Commissioner considers an alternate method to more … clearly reflect income.

Estate of Opal v. Commissioner

54 T.C. 154 · United States Tax Court · Feb 5, 1970

It follows that the survivor of the makers received a terminable interest which did not qualify for the marital deduction under sec. 2056(b)(1), I.R.C. 1954 , and does not qualify as a life estate with a power of appointment … does not qualify as a life estate with a power of appointment under section 2056(b)(5) .

Ralston Purina Co. v. Comm'r

131 T.C. 29 · United States Tax Court · Sep 10, 2008

These shares could be issued only in the name of an ESOP trustee and were not readily tradable on an established market. … Once that connection is established, deduction under section 404(k) is possible.

Herman v. Commissioner

84 T.C. 120 · United States Tax Court · Jan 30, 1985

This Court has considered, on many occasions, whether or not an expense qualified as an ordinary and necessary business expense under section 162. See, e.g., Jordan v. … That characterization having been made, the appropriate characterization of the payment for the certificates at the individual level should follow clearly.

Van Buren v. Commissioner

89 T.C. 1101 · United States Tax Court · Dec 7, 1987

The trust therefore qualifies as a “simple” trust during the taxable year at issue. Sec. 651; sec. 1.651(a)-l, Income Tax Regs. … The record establishes that the trust herein was a simple trust during the taxable year at issue.

Fegan v. Commissioner

71 T.C. 791 · United States Tax Court · Feb 14, 1979

claimed by petitioner with respect to furnishings and equipment which were in the motel with the following explanation: It is determined that property on which you claimed investment credit for 1971,1972 and 1973 does not qualify … The record clearly discloses what he did.

Estate of Powell v. Comm'r

113 T.C.M. 4055 · United States Tax Court · May 18, 2017

for the bona fide sale exception, the Court of Appeals for the Ninth Circuit warned that an estate cannot qualify for the exception merely by establishing the proportionality of an exchange (that is, that each partner … The decedent clearly “made a transfer” of the $10 million in cash and securities. And she clearly retained the proverbial “string” that pulls these assets back into her estate. But the Court concludes, see op.