Case law

Stiles v. Commissioner

69 T.C. 558 · United States Tax Court · Jan 10, 1978

The trust was established by PRI and Retailers as settlors, and petitioner selected Malden Trust Co. as trustee for the account. … Petitioners have failed to prove that the installment method does not clearly reflect their income.

Soriano v. Commissioner

90 T.C. 44 · United States Tax Court · Jan 11, 1988

The amount of this credit is limited to the percentage of a taxpayer’s qualified investment in section 38 property. Sec. 46(a)(2)(A)(i). 9 Qualified investment is a percentage of basis, and basis is generally cost. … Petitioner clearly understood the effect of tax credits. One of the settled issues in this case involves the “Mid South Music Tax Shelter.”

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.

Richard v. Commissioner

55 T.C.M. 864 · United States Tax Court · May 16, 1988

Section 911(d)(1) defines a qualified individual as: an individual whose tax home is in a foreign country and who is -- (A) a citizen of the United States and establishes to the satisfaction of the Secretary that he has been … While an exact definition of "abode" depends upon the context in which the word is used, it clearly does not mean one's principal place of business.

Simpson v. Comm'r

86 T.C.M. 470 · United States Tax Court · Oct 21, 2003

From 1987 to 1996, according to petitioner, Avis established and maintained a qualified Employee Stock Ownership Plan (ESOP) in which petitioner was a participant. … a participant under a plan, (2) clearly specifies certain facts, and (3) does not alter the amount of the benefits under the plan.

Hambrose Leasing 1984-5 Ltd. Partnership v. Commissioner

99 T.C. 298 · United States Tax Court · Sep 1, 1992

Sec. 6226(f), which establishes our authority to review final partnership administrative adjustments, provides: SEC. 6226(f). … Line B of the Schedule K-l reports a partner’s share of partnership liabilities and characterizes such liabilities as “nonrecourse”, “qualified nonrecourse financing”, or “other”. Cf. Sealy Power, Ltd. v.

Byram v. Commissioner

9 T.C. 1 · United States Tax Court · Jul 7, 1947

The New York Trust Co. is the duly qualified executor of the decedent's estate. A Federal estate tax return was filed with the collector of internal revenue at Hartford, Connecticut. … The test is whether the particular facts establish that the thought of death is the impelling cause of the transfer.

Smith-Dodd Businessman's Asso. v. Commissioner

65 T.C. 620 · United States Tax Court · Dec 22, 1975

Petitioner's once-a-week activities clearly meet the regularly-carried-on test contained in section 1.513-1(c)(2)(i), Income Tax Regs. … Clearly, petitioner's bingo operators were not volunteers. Nor were the payments they *21 received in any way correlated with their expenses.

Haag v. Commissioner

88 T.C. 604 · United States Tax Court · Mar 16, 1987

The transaction qualified for nonrecognition treatment under section 351(a). … At issue, is whether a reallocation of income is necessary to clearly reflect income or to prevent the evasion of taxes.

United Surgical Steel Co. v. Commissioner

54 T.C. 1215 · United States Tax Court · Jun 9, 1970

Initially tbe petitioner met tbe conditions required in order for a taxpayer to establish a reserve for guaranteed debt obligations for the taxable years ended before October 22, 1965. … clearly establish that the transaction between the petitioner and the bank was in form, as well as substance, a loan and not a sale of the collateral.

Estate of Dinell v. Commissioner

58 T.C. 73 · United States Tax Court · Apr 17, 1972

under said Trust Agreement dated March 30, 1959 of which First National City Bank is the duly qualified and acting Trustee; and The undersigned, JUDITH C. … Wells, 283 U.S. 102 , and section 20.2035-1 (c) of the Estate Tax Regulations. 2 He contends that the record here clearly demonstrates that the transfer was a part of decedent’s overall testamentary scheme and therefore was

Estate of Skaggs v. Commissioner

75 T.C. 191 · United States Tax Court · Oct 30, 1980

While, at first blush, it may seem incongruous that this husband-wife partnership continued after Ernest’s death until its affairs were wound up, we think it quite clearly did. … Those interests, as the parties agree, thus qualify for basis adjustments under section 1014(a) and (b)(6).

Estate of Lamberth v. Commissioner

31 T.C. 302 · United States Tax Court · Oct 31, 1958

Immediate possession of said real estate and if necessary to resort to legal action therefor, as if formal attorment [sic] had been established if required; and, 2. … For the same reasons Ives Dairy, Inc., supra, is clearly distinguishable.

Estate of McGuire v. Comm'r

59 T.C. 361 · United States Tax Court · Nov 30, 1972

OPINION In order for the charitable remainder to qualify as a deduction under section 2055(a) , 2 the trustee’s power of invasion must be limited by a definite and ascertainable standard capable of being translated into terms … Had the decedent coupled the word “comfort” with the word “support,” the power quite clearly would have connoted “the objective station in life standard,” Salisbury v.

Burroughs Corp. v. Commissioner

33 T.C. 389 · United States Tax Court · Nov 30, 1959

In so functioning the committee acts in accordance with certain approved and established policies and procedure. … Clearly petitioner fully intended to continue to operate the Farms at a substantial annual, loss after conveying it to the trust as it had done prior to the conveyance.

Davis v. Commissioner

22 T.C. 1091 · United States Tax Court · Aug 24, 1954

It had been her experience that individuals best qualified to invest funds and obtain a maximum return were of a type who were rarely interested in social service work. … It was its purpose and plan to disburse funds for projects which might arise and would be thought to qualify for assistance, the studies of these being made by KWA.

Dittler Bros., Inc. v. Commissioner

72 T.C. 896 · United States Tax Court · Aug 27, 1979

This transfer left SSNV with $10,000 cash and 100 percent of the stock of OLINV, thereby qualifying as an investment holding company under Netherlands Antilles law. … It states that its expatriating transfer of property qualifies for nonrecognition treatment, as so stated at section 2.02 of Rev.

Niedringhaus v. Commissioner

99 T.C. 202 · United States Tax Court · Aug 11, 1992

be qualified, changed, or contradicted in whole or in part. … The evidence clearly and convincingly establishes that petitioner is liable for the additions to tax under section 6653(b)(1) and (2) for 1982 through 1985.

Coleman v. Commissioner

76 T.C. 580 · United States Tax Court · Apr 8, 1981

However, the record clearly establishes that over the years, many elm trees in Birmingham, Mich., both privately owned and city-owned trees, have been lost due to Dutch elm disease. … OPINION The issue here is whether the loss of petitioner’s elm tree from Dutch elm disease qualifies as a casualty loss under section 165(c)(3).

Reddy v. Commissioner

48 T.C.M. 667 · United States Tax Court · Jul 30, 1984

Sec. 44C(c)(5). 3 The Secretary of the Treasury is specifically authorized by the statute to issue regulations which establish criteria to be used in prescribing performance and quality standards for renewable energy source … This regulation is clearly consistent with section 44C(c)(5)(A) which applies to energy derived from geothermal deposits. 4 The fact that heating and cooling systems which do not transmit or use energy derived from geothermal