Case law

Estate of Obering v. Commissioner

48 T.C.M. 733 · United States Tax Court · Aug 1, 1984

Bowers, 57 F.2d 682 (2d Cir. 1932) . *314 The agreement must fully satisfy the above criteria in order to qualify. … Evidence presented by respondent clearly demonstrates errors in that valuation.

O Liquidating Corp. v. Commissioner

19 T.C.M. 154 · United States Tax Court · Feb 25, 1960

the right of petitioner to a dividend from Equitable Life did not arise until February 18, 1954, when the board of directors of Equitable Life set aside a designated portion of its surplus for the payment of dividends on qualifying … reflect the income, the computation shall be made in accordance with such method as in the opinion of the Commissioner does clearly reflect the income."

Krampf v. Comm'r

46 T.C.M. 627 · United States Tax Court · Jun 28, 1983

The burden of proving fraud is on respondent, and he must establish it by clear and convincing evidence. … In short, we are not satisfied that respondent has carried his burden of proving fraud clearly and convincingly.

Sinskey v. Commissioner

30 T.C.M. 1286 · United States Tax Court · Nov 29, 1971

Clearly, Middlesex had no loss on these shares as of *49 December 31, 1960. 9 It is well established that a loss must be evidenced by a completed and closed transaction. United States v. … Lo Bue, 351 U.S. 243 , 248 (1956)) 13 and is therefore clearly distinguishable. Admittedly, Arthur A.

Barrenechea v. Commissioner

60 T.C.M. 638 · United States Tax Court · Aug 30, 1990

equipment, or (ii) a structure which houses property used as an integral part of an activity specified in section 48(a)(1)(B)(i) if the use of the structure is so closely related to the use of such property that the structure clearly … As in Lukens , the evidence in this case establishes that the purpose of the craneway was to move steel. Bartec could not fabricate steel without the craneway.

Bryant v. Commissioner

58 T.C.M. 235 · United States Tax Court · Sep 27, 1989

We next address whether the $ 380,000 of expenditures claimed by petitioner qualify as development expenditures. … Respondent also suggests that part of petitioner's expenditures was used to pay Noack for building his mill and thus was not qualified as a development expenditure.

Denali Dental Services v. Commissioner

58 T.C.M. 13 · United States Tax Court · Sep 5, 1989

Petitioners argue that the transfer of assets from the corporation to Denali qualifies as a tax-free reorganization. We disagree with petitioners. … An income tax deduction is a matter of legislative grace, and the burden of clearly establishing the right to a claimed deduction is on the taxpayer. New Colonial Ice Co. v.

Hananel v. Commissioner

62 T.C.M. 439 · United States Tax Court · Aug 12, 1991

Such fact establishes that the employment was not permanent, but it alone does not establish that the employment was temporary. Garlock v. Commissioner , supra . … Such is not the case here; and when viewed as a whole, the record before us clearly establishes that Mr. Hananel's employment at Sargent & Lundy was indefinite and not temporary.

Estate of O'Leary v. Commissioner

51 T.C.M. 1073 · United States Tax Court · May 27, 1986

Subsequent to trial herein, petitioner Harlan O'Leary (hereinafter "Harlan") died, and his estate, through his duly qualified executors, was substituted as a party petitioner. … The method of accounting employed by petitioners in their 1978 and 1979 tax returns did not clearly reflect their income. OPINION I.

Grelsamer v. Commissioner

72 T.C.M. 524 · United States Tax Court · Aug 27, 1996

The offering memoranda for the Partnership transactions warned that there was no established market for the Sentinel EPE recyclers. … Accordingly, we find that petitioners did not reasonably or in good faith rely on Becker as an expert or a qualified professional working in the area of his expertise to establish the fair market value of the Sentinel

Jacobs v. Commissioner

79 T.C.M. 1554 · United States Tax Court · Feb 23, 2000

That intent is clearly expressed in the language of the release and pretrial order. We do not need to look further. … The FLSA was enacted to establish minimum wages and maximum hours for employees. See Brooklyn Sav. Bank v. O’Neil, 324 U.S. 697, 707 (1945). According to 29 U.S.C.

Moore v. Commissioner

56 T.C.M. 1150 · United States Tax Court · Jan 24, 1989

As a threshold issue, petitioners must establish that the expenditures were in connection with a trade or business. … Petitioners were effectively immunized from loss in connection with the note.

Hines v. Commissioner

44 T.C.M. 1345 · United States Tax Court · Oct 6, 1982

Litigation concerning this issue continued in Missouri courts after 1971. under section 166 , only a bona fide debt qualifies for a bad debt deduction. … Accordingly, we find petitioner has not established the worthlessness of the buyers' notes in 1971.

Tseytin v. Comm'r

110 T.C.M. 617 · United States Tax Court · Dec 28, 2015

The merger was to qualify as a tax-free reorganization under sections 356 and 368(a), subject to the requirement of section 356(a)(1)(B) regarding cash received in the merger. … Petitioner has not presented sufficient evidence to establish good-faith reliance on the advice of a tax professional or that his reliance on a tax professional was reasonable. See Neonatology Assocs., P.A. v.

Richard K. and Marilyn J. Phillips v. Commissioner

114 T.C. No. 7 · United States Tax Court · Feb 29, 2000

In this case the record clearly reflects that the IRS did not notify Mr. Hoyt that his partnership items would be treated as nonpartnership items. … Accordingly, we find that petitioners have not established that respondent abused his discretion by not notifying Mr.

Estate of Williams v. Commissioner

41 T.C.M. 844 · United States Tax Court · Feb 11, 1981

From its incorporation through the years in issue, Holiday Hills qualified as an electing small business corporation as defined in section 1371. 1 Holiday Hills filed its Federal income tax returns using a taxable year ending … First, in his application for the loan, Williams clearly indicated that all proceeds would be applied to the Holiday Hills project. 10 Second, we do not believe it is merely coincidental that Holiday Hills' records reflected

Bostroem v. Commissioner

33 T.C.M. 676 · United States Tax Court · Jun 17, 1974

Petitioner filed a patent application in Germany and it was not established whether the application was issued in joint names or Sendzimir's alone. … It is our view that petitioner qualifies as a "holder" within the purview of the above quoted provision of the Code since he was not an employee or related to the creator of the patented galvanizing process, and he acquired

Martinez v. Comm'r

2008 T.C. Summary Opinion 165 · United States Tax Court · Dec 29, 2008

To establish that she had no reason to know, the alleged innocent spouse must establish that: (1) When she signed the return, she had no knowledge or reason to know that her spouse would not pay the tax reported on … Though she did not prove economic hardship, petitioner’s financial situation is clearly not strong. She lives in expensive California, and at least since 1992 she has lived only a modest lifestyle.

Olbres v. Commissioner

74 T.C.M. 713 · United States Tax Court · Sep 25, 1997

We may, and we shall in this instance, disregard stipulations between the parties when the stipulations are clearly contrary to the facts established by record. See Cal-Maine Foods, Inc. v. … We may, and we shall in this instance, disregard stipulations between the parties where the stipulations are clearly contrary to facts established by the record. See Cal-Maine Foods, Inc. v.

Estate of Gill v. Comm'r

103 T.C.M. 1026 · United States Tax Court · Jan 9, 2012

Clearly the charges were brought against Loyd and Willard Whitt in their capacities as co-administrators and executor, not as individuals. * * * This is not a case where legal fees were incurred by a beneficiary … The estate made no argument and offered no evidence to establish that the attorney’s fees were reasonable.