Case law

MEI Productions v. Commissioner

2020 T.C. Memo. 11 · United States Tax Court · Jan 14, 2020

Therefore, you do not qualify for penalty abatement based on reasonable cause. Other Issues Raised No other issues were raised. … But it clearly was not.

Foster v. Commissioner

30 T.C.M. 1032 · United States Tax Court · Sep 21, 1971

To qualify as a dependent the statute requires that petitioner has provided more than one-half of each child's support for the year in question. … Petitioner's use of the more favorable rates was clearly improper.

Cadillac Textiles, Inc. v. Commissioner

34 T.C.M. 295 · United States Tax Court · Mar 4, 1975

Accordingly, the redemption fails to qualify as a legitimate business need on account of which any accumulation can be justified. … L. 91-172 in 1969 to include within the term "reasonable needs of the business" a redemption of stock qualifying under sec. 303.

POISON CREEK RANCHES 1 v. COMMISSIONER

72 T.C.M. 1218 · United States Tax Court · Nov 7, 1996

The provision establishing the number of cattle held by the partnerships clearly applies, by its terms, only to depreciable cattle. … This stipulation is not clearly contrary to the facts disclosed on the record.

MANNING v. COMMISSIONER

65 T.C.M. 2221 · United States Tax Court · Mar 30, 1993

The evidence clearly shows that petitioners did not make the contributions as claimed. Deduction of the fictitious contributions was clearly erroneous, intentional, and fraudulent. … Petitioner wife's testimony regarding the charitable contributions to the churches was clearly incredible and unbelievable.

Arland T. Keeton A.K.A. Arland Keeton & Ima Jean Keeton

United States Tax Court · Mar 16, 2023

KRLLC, which appears to have qualified for small partnership status, checked a box on its 2017 return indicating that it was not electing to have TEFRA procedures apply. … Petitioners have thus failed to establish that they actually received and relied on professional advice.

Kelly v. Commissioner

77 T.C.M. 1920 · United States Tax Court · Apr 29, 1999

A taxpayer is required to substantiate expenses for listed property by establishing the amount, time, place, and business purpose of the expense. See sec. 274(d). … On the basis of the record, we find that petitioner earned gross income in the amount of $23,519 for the 1994 tax year and that petitioner had one qualifying child in 1994.

Weeks v. Commissioner

1 T.C.M. 151 · United States Tax Court · Nov 24, 1942

All of its outstanding stock except for a qualifying share was owned by petitioner and W. F. Weeks and was issued to them solely in exchange for the transfer to the corporation of the 200 acres of land. … Petitioner himself established that the stock became worthless prior to 1934 by selling in 1933, 500 shares at four-fifths of a cent a share." And see .

Butler v. Comm'r

103 T.C.M. 1359 · United States Tax Court · Mar 19, 2012

a “qualified organization” (3) “exclusively for conservation purposes.” … The parties agree that the contributions petitioners made were of qualified real property interests and that those contributions were made to qualified organizations.

Perkal v. Commissioner

46 T.C.M. 1117 · United States Tax Court · Aug 16, 1983

In finding such expenditures deductible, the Court noted that the criminal charges against the taxpayer found their source in his business activities as a securities dealer and thus qualified under United States v. … However, the evidence in this case clearly undermines petitioner's contentions. As respondent has pointed out, petitioner could have become an inactive member during 1976 without losing his initiation fee.

Kraskow v. Commissioner

23 T.C.M. 1414 · United States Tax Court · Sep 9, 1964

not qualify here. … She also testified with respect to the items on the lists (some of which were clearly estimates) and some she had omitted. No useful purpose would be served by reviewing the evidence in detail.

Kotowicz v. Commissioner

62 T.C.M. 1229 · United States Tax Court · Nov 20, 1991

which occurs before or after a qualified rental period described in subparagraph (B)(i) or before a qualified rental period described in subparagraph (B)(ii), if with respect to such day such unit constitutes the principal … The record in this case does not establish where the Kotowiczes stayed during these return visits, *628 but it is obvious from their actions that they did not regard the Florida condominium as their "principal" residence

Mack v. Commissioner

40 T.C.M. 1286 · United States Tax Court · Sep 18, 1980

Clearly, this method overstated the actual value of the donated equipment because much of it was used, had a limited marketability, was no longer under warranty, or had become obsolete. … Accordingly, we are compelled by a careful analysis of the evidence to hold that petitioner has not established a deductible theft loss in 1974. 3.

Wolfrum v. Commissioner

62 T.C.M. 388 · United States Tax Court · Aug 7, 1991

Indeed, it would be possible for an Amish member, upon qualifying for social security benefits, to receive and pass them along to an Amish fund having parallel objectives. … United States , 197 U.S. at 215 -216 . *442 Clearly, the taxing statute does not place petitioners herein under a condition of compulsory service.

Sheldon v. Comm'r

94 T.C. 738 · United States Tax Court · May 29, 1990

Instead, the majority leaps forward to the repos to maturity which I agree lacked substance, i.e., those which merely added to GSDIl’s net loss, and states, “The remainder of the repos were even more clearly without substance … Treasury obligations are considered to be loans and that income to the lender (the purchaser/reseller) qualifies as interest income.

Libutti v. Comm'r

50 T.C.M. 241 · United States Tax Court · Jun 26, 1985

While *344 Caldwell was evasive as to where he received his funds to buy Casa Orange, and we give little weight to his testimony, the independent evidence clearly establishes that Caldwell bought the horse from petitioner … Clearly this is not an issue which has been tried by consent.

Metro Auto Auction, Inc. v. Commissioner

48 T.C.M. 894 · United States Tax Court · Aug 14, 1984

The cards in petitioner's customer card file were clearly an important income producing factor in petitioner's business. … Petitioner's evidence established that the cards had a useful life of approximately five years and we so hold.

Welker v. Commissioner

74 T.C.M. 956 · United States Tax Court · Oct 15, 1997

Welker purchased on 1 Unless otherwise indicated, all descriptions refer to the 1984, 1985, 1986, and 1987 tax years. 2 High risk customers were those who could not qualify for conventional financing … Conclusion After reviewing all of the facts and circumstances, we conclude that respondent has clearly and convincingly proven that the underpayment of tax for each of the years in issue was due to fraud on the part

Willamette Indus. v. Commissioner

69 T.C.M. 2319 · United States Tax Court · Apr 4, 1995

Memo. 1992-407 , the Court established the methodology to be used to compute the fair market value of timber cut by P based on a detailed consideration of the expert testimony. … The opinion in the instant cases was not arbitrary, and all of the Court's findings are clearly supported by the record.

Cullman v. Commissioner

42 T.C.M. 1691 · United States Tax Court · Nov 17, 1981

Held further : Evidence does not establish that value of each one-sixth interest in the trust was less than one-sixth of the value of the property held by the trust. *78 Sol Morton Isaac and Elbert R. … and that in certain instances all these rights, privileges, powers and immunities are not transferred or released simultaneously."