Case law

Advance Pressure Castings, Inc. v. Commissioner

7 T.C.M. 140 · United States Tax Court · Mar 12, 1948

Opinion ARUNDELL , Judge: The pertinent statutory provision under which petitioner seeks to qualify is section 23(a) (1) (A) of the Internal Revenue Code . … In the circumstances, petitioner's liability in 1943 to recondition its dies was clearly contingent and the estimated cost of doing this work, if and when it became necessary, did not constitute an incurred liability in the

Ernest S. Ryder & Patricia A. Ryder

United States Tax Court · Jul 14, 2021

Ryder created BFA in the Turks and Caicos in 1996, just after R&A’s establishment. … Ryder clearly made an economic outlay to Ammon by paying $10,000 cash, giving him $10,000 basis in the stock thereby acquired.

Ryder Ranches, LLC, F.K.A. Ryder Ranch Company, LLC, Ernest S. Ryder, Tax Matters Partner

United States Tax Court · Jul 14, 2021

Ryder created BFA in the Turks and Caicos in 1996, just after R&A’s establishment. … Ryder clearly made an economic outlay to Ammon by paying $10,000 cash, giving him $10,000 basis in the stock thereby acquired.

Stan Frisbie, Inc. v. Commissioner

60 T.C.M. 440 · United States Tax Court · Aug 6, 1990

Upon establishing SFI, Frisbie hoped to consummate "million dollar deals." … We need not, however, consider what portion qualifies as such since SFI has failed to establish that the sailboat was not an "entertainment facility" within the meaning of section 274(a)(1)(B).

Costa v. Commissioner

60 T.C.M. 1178 · United States Tax Court · Oct 31, 1990

A deficiency determination not supported by the proper evidentiary foundation is clearly arbitrary and erroneous. Weimerskirch v. … In the absence of such records, respondent may compute the taxpayer's income by a method which clearly reflects income. Sec. 446(b); Petzoldt v.

Gold-Pak Meat Co. v. Commissioner

30 T.C.M. 337 · United States Tax Court · Apr 26, 1971

For this reason only, the taxable income of the consolidated group is not clearly reflected. … Respondent has conceded that Bristol is a farmer, but contends that Gold-Pak does not qualify as a farmer, but is at most a cattle warehouseman, or its equivalent.

Eisenberg v. Commissioner

69 T.C.M. 2446 · United States Tax Court · Apr 18, 1995

In fact, petitioner argues that he consulted qualified tax advisers and relied upon them in claiming the disallowed losses and tax credits. … The record in this case contains no evidence to establish an abuse of discretion on the part of respondent.

Baker v. Commissioner

41 T.C.M. 1142 · United States Tax Court · Mar 25, 1981

Although qualified as a lawyer, he had not practiced law for over 15 years at the time of his resignation from the Pittsburgh National Bank. … In order to prove that a loan as proximately related to his trade or business as a corporate employee, 8 the taxpayer must establish that the dominant motive for the loan was the protection of his employment rather than his

McClain v. Comm'r

2007 T.C. Summary Opinion 175 · United States Tax Court · Oct 17, 2007

It is not necessary under section 152(a)(9) that an individual be related to the taxpayer to qualify as his dependent. … Petitioner is clearly a caring and generous person, but this  - 13 - activity was conducted neither for profit nor as a business operation.

MARKS v. COMMISSIONER

46 T.C.M. 1408 · United States Tax Court · Sep 19, 1983

The record in the present case reveals only one loan made by petitioners; clearly, they have not demonstrated that they were in the trade or business of lending money. … The record does not establish, however, that even a direct contribution to the University would qualify as a deduction.

Gates Rubber Co. & Subsidiaries v. Commissioner

74 T.C. 1456 · United States Tax Court · Sep 25, 1980

Respondent would deny that the costs of drilling a shaft not meeting his definition of a “well” qualify for the intangibles option. … Moreover, not only is respondent’s use of the word “development” erroneous from a technical standpoint, it clearly would thwart the whole policy undergirding the intangibles option.

Harvey v. Commissioner

74 T.C.M. 191 · United States Tax Court · Jul 24, 1997

The notice clearly states, among other things, that "YOUR FAILURE TO APPEAR MAY RESULT IN DISMISSAL OF THE CASE AND ENTRY OF DECISION AGAINST YOU". … The evidence adduced by respondent establishes that these commissions were income from self-employment. Accordingly, we conclude that petitioner is liable for the self-employment tax.

Young v. Commissioner

56 T.C.M. 174 · United States Tax Court · Sep 15, 1988

Petitioners produced a well-qualified expert witness who testified to the residual value of the equipment at the termination of the lease. … They were "effectively immunized from any realistic possibility of suffering an economic loss" other than their own payment. Porreca v.

Estate of Levy v. Commissioner

63 T.C.M. 1739 · United States Tax Court · Jan 7, 1992

For reasons stated below, we find that petitioner failed to prove that respondent's position 5 was unreasonable. 6 Accordingly, petitioner does not qualify as a "prevailing party," and we do not reach the remaining issues … These briefs were necessary to more clearly define the facts in this case.

Herman v. Comm'r

98 T.C.M. 57931 · United States Tax Court · Sep 14, 2009

Qualified Conservation Contribution.-- (1) In general. … In Dorsey the parties had stipulated that the donation “qualifie[d] as a deductible ‘qualified conservation contribution’ * * *. Unresolved is the charitable contribution amount.”

Pavel Dobra and Ana Dobra v. Commissioner

111 T.C. No. 19 · United States Tax Court · Dec 29, 1998

Section 131(b) defines the “qualified foster care payments” (QFCP) referred to by section 131(a). … However, our belief that the ordinary, everyday meaning of a person's "home" was his (or her) place of abode, was clearly a key factor in our decision.

Transpac Drilling Venture 1982-16 v. Commissioner

67 T.C.M. 1995 · United States Tax Court · Jan 24, 1994

Volatile and Cofman subsequently were granted immunity from criminal prosecution. Volatile testified before the grand jury on June 12, 1986. … We find that petitioners have failed to allege facts sufficient to establish at least three of the elements of equitable estoppel.

Young v. Commissioner

36 T.C.M. 165 · United States Tax Court · Feb 16, 1977

The insurance adjuster concluded that petitioner has established losses on the contents that justified paying the maximum amount ($23,000) allowable under the policy. … The loss thus sustained was clearly "incurred in a trade or business" and hence deductible under section 165(c)(1) without regard to the $100 deductible made applicable to casualty losses on nonbusiness property by section

Ernest S. Ryder & Patricia A. Ryder

United States Tax Court · Jul 14, 2021

Ryder created BFA in the Turks and Caicos in 1996, just after R&A’s establishment. … Ryder clearly made an economic outlay to Ammon by paying $10,000 cash, giving him $10,000 basis in the stock thereby acquired.

First Counsel Capital, Inc.

United States Tax Court · Jul 14, 2021

Ryder created BFA in the Turks and Caicos in 1996, just after R&A’s establishment. … Ryder clearly made an economic outlay to Ammon by paying $10,000 cash, giving him $10,000 basis in the stock thereby acquired.