Case law

Smoker v. Comm'r

105 T.C.M. 1389 · United States Tax Court · Feb 21, 2013

Qualified Residence Interest Deductions Deductions, including those for qualified residence interest, are a matter of legislative grace. New Colonial Ice Co. v. … In addition, petitioner maintains that he “clearly relied on the advice of tax advisors” in taking deductions for interest that was accrued but not paid on his 2007 return.

California Eastern Line, Inc. v. Chairman of United States Maritime Com.

17 T.C. 1325 · United States Tax Court · Feb 15, 1952

The Commission clearly was not the charterer in these contracts between the operators and the Ministry of War Transport; otherwise the leasing of the ships to the operators by the Commission would seem to have been an incomprehensible … Petitioner objected to the competence of these exhibits. 12 We have concluded that petitioner’s objections should be sustained as to Exhibit G, and, since Exhibit H merely qualifies Exhibit G and falls with it, we have accordingly

Meyers v. Commissioner

21 T.C. 331 · United States Tax Court · Nov 30, 1953

The respondent established that the petitioner received amounts each year, without consideration, as a stockholder of the Corporation. … As part of his proof of insolvency, respondent submitted a statement, prepared by a qualified accountant, showing the extent to which the Corporation was insolvent.

Estate of Wallace v. Commissioner

95 T.C. 525 · United States Tax Court · Nov 14, 1990

This Court has held that compensation which qualifies as “a reasonable allowance * * * for personal services actually rendered” under section 162(a)(1) qualifies as earned income for purposes of section 1348; conversely, … compensation which is unreasonable under section 162(a)(1) does not so qualify.

Enoch v. Commissioner

57 T.C. 781 · United States Tax Court · Mar 15, 1972

Any prepayment charges were clearly the obligation of Simons or Sunrise and not of R.R.R. … We read Goldstein for the proposition that the interest deduction should not generally be denied once a primary purpose other than tax motivation is established.

Howard E. Clendenen, Inc. v. Commissioner

76 T.C.M. 394 · United States Tax Court · Sep 3, 1998

without published opinion 89 F.3d 841 (8th Cir. 1996).6 We rejected the same argument presented herein and concluded that respondent's position was clearly supported by the statute and regulations. … Petitioner has not argued or established that any corrective measures were taken to reduce these additions. See sec. 1.415- 6(b)(6), Income Tax Regs.

Bank of Am. Trust & Sav. Ass'n v. Commissioner

61 T.C. 752 · United States Tax Court · Mar 18, 1974

Petitioner qualifies as a “Banking Business” under this schedule. … In Seatrain Lines, Inc., 46 B.T.A. 1076 (1942), the Cuban tax was clearly directed at net profit with the measure, in the case of the particular type of taxpayer, based upon gross income and an assumed level of expenses.

Olster v. Commissioner

79 T.C. 456 · United States Tax Court · Sep 13, 1982

The evidence with respect to this issue was not exceptionally organized or clearly presented. … Pollack had a sound familiarity with the real estate area, we do not believe that he was qualified as an expert witness with respect to the valuation of mortgages.

Williamson v. Commissioner

49 T.C.M. 928 · United States Tax Court · Mar 7, 1985

Such use of the local chapter's funds clearly violates the prohibitions of section 170(c)(2)(C) . McGahen v. … The record does clearly disclose, however, and we have found, that one or more petitioners took "courses" from each of the institutions during the period in question and, in connection therewith, paid money for course fees

Murillo v. Commissioner

75 T.C.M. 1564 · United States Tax Court · Jan 12, 1998

The title 31 sections establish the Federal Government's policy against structuring. See Stephens v. Commissioner, 905 F.2d at 670. … The Congress, by its enactment of the antistructuring statutory provisions, established a declared public policy.

G.M. Trading Corp. v. Commissioner

103 T.C. 59 · United States Tax Court · Jul 25, 1994

The new plant was to qualify under a Mexican Government-sponsored program that encouraged foreign corporations to establish in Mexico subsidiary corporations for the manufacture of export products. … Corporations established under this program were referred to as maquiladoras.

Vetrick v. Commissioner

37 T.C.M. 392 · United States Tax Court · Feb 28, 1978

In early 1972, subsequent to discharge from active duty with the United States Army, petitioner established a law practice in Cleveland, Ohio, limited to the federal courts. … And it is now clearly established that the subjective purposes of the individual in obtaining the education are irrelevant. Objective standards must be applied. Weiler v. Commissioner, 54 T.C. 398 (1970) ; Bodley v.

L. E. Shunk Latex Products, Inc. v. Commissioner

18 T.C. 940 · United States Tax Court · Aug 29, 1952

The record is barren of any showing, however, that petitioners had grounds on which to file such an application or that they were in any way qualified for such relief. … Respondent has done nothing to establish the basis on which such an application might have been filed or the conditions required for its successful prosecution.

Venni v. Commissioner

47 T.C.M. 874 · United States Tax Court · Jan 10, 1984

Petitioner must therefore prove that local congregation No. 00230 independently qualified *674 under section 170(c)(2) in order for alleged contributions to that entity to qualify as charitable contributions under section … The record clearly establishes that the position petitioner chose to take on his 1979 return which resulted in the underpayment of tax, was "at best wishful thinking and at least intentional disregard of the rules and regulations

Hopkins v. Commissioner

15 T.C. 160 · United States Tax Court · Aug 29, 1950

With respect to the Irvington property, however, the evidence clearly establishes that the tax arrearages had greatly exceeded the fair market value of the property by the year in which petitioner first seeks to take his … The unsafe building notice issued in 1940 clearly shows that the building was not properly maintained.

Dellinger v. Commissioner

32 T.C. 1178 · United States Tax Court · Sep 14, 1959

It is well established that fair market value is the price at which property would change hands in a transaction between a willing buyer and a willing seller, neither being under compulsion to buy and sell and both being … We add that, although bearing the burden of proof, petitioner did not offer as a witness, Taylor, the real estate dealer who had handled the sales of the lots in the subdivision, who apparently was well qualified to testify

Ti Li Loo v. Commissioner

22 T.C. 220 · United States Tax Court · Apr 30, 1954

Thereafter, he accepted *228 employment at Christ Hospital in Cincinnati, Ohio, at a salary of $ 6,120 per year doing work for which his training and research had qualified him. … On the contrary, the evidence clearly shows that petitioner did not receive the fellowship in any competitive contest. This case is distinguishable on its facts from McDermott v. Commissioner, supra .

Young v. Commissioner

58 T.C. 629 · United States Tax Court · Jul 18, 1972

OPINION The issue confronting us is whether payments made in the taxable years 1966 and 1967 by George to his former wife, Glendora, qualify as periodic alimony payments. … In Williams , the former spouses likewise agreed to an installment arrangement in lieu of the periodic arrangement established by the decree. They also executed a satisfaction of judgment. Mary Louise Williams, supra .

Pepper v. Commissioner

36 T.C. 886 · United States Tax Court · Aug 28, 1961

Expenditures by a taxpayer to protect an established business are fully deductible as ordinary business expenses. See Edward J. … However, there is no requirement that there must be an underlying legal obligation to make an expenditure before it can qualify as an ordinary and necessary business expense under section 23(a) (1) (A), supra.

Ourisman v. Commissioner

82 T.C. 171 · United States Tax Court · Jan 26, 1984

Despite our determination regarding the fifth National Carbide factor, we conclude, as we did in Roccaforte, that the petitioners have clearly established that the corporation acted as the partnership’s agent in the construction … The Fifth Circuit’s argument that our holdings in Roccaforte and herein may permit any closely held corporation to qualify as a nontaxable agent is unfounded.