Case law

Hart v. Commissioner

46 T.C.M. 530 · United States Tax Court · Jun 20, 1983

One of the components of Rhoades' plan involved the establishment of a foreign situs trust on behalf of petitioner. … Thus, although Steelwood was issued a permit by the state of California on October 10, 1974, qualifying it to issue 200,000 shares of non-voting common stock, it was not until November 15, 1974, that the Liberian Minister

Hastings v. Commissioner

77 T.C.M. 2024 · United States Tax Court · May 18, 1999

It is well established that respondent may utilize indirect methods of reconstructing a taxpayer’s income. … Petitioner did not offer records of her law practice or a methodology that would more clearly reflect income than the bank deposits reconstruction used by respondent.

Petaluma FX Partners, LLC, Ronald Scott Vanderbeek, A Partner Other Than the Tax Matters Partner v. Commissioner

131 T.C. No. 9 · United States Tax Court · Oct 23, 2008

This stipulation is binding on the parties, and we do not find that justice requires the Court to permit petitioner to qualify, change, or contradict it. See Rule 91(e); Stamos v. … contributions to Petaluma FX Partners, LLC will be adjusted to reflect clearly the partnership’s or purported partners’ income. 4.

AFFILIATED FOODS, INC. v. COMMISSIONER

72 T.C.M. 1226 · United States Tax Court · Nov 7, 1996

Overall, the record is inadequate to establish whether these amounts were paid as a rebate, a return of cooperative profits, or some other payment. Unlike the taxpayers in Seven-Up Co. v. … To qualify for deduction under section 162(a), an item must (1) be paid or incurred during the taxable year, (2) be for carrying on any trade or business, (3) be an expense, (4) be a necessary expense, and (5) be an ordinary

Meaney v. Commissioner

67 T.C.M. 2299 · United States Tax Court · Feb 28, 1994

We are not bound by a stipulation where it is clearly contrary to facts disclosed by the record. See Jasionowski v. … For example, the record establishes that Dr. Meaney consulted experts in breeding his horses for speed.

Estate of Sawade v. Commissioner

49 T.C.M. 214 · United States Tax Court · Dec 3, 1984

The facts of this case are clearly distinguishable. … The facts of this case are clearly distinguishable.

London v. Commissioner

76 T.C.M. 539 · United States Tax Court · Sep 29, 1998

London qualifies as a so-called "innocent spouse". FINDINGS OF FACT Some of the facts have been stipulated and are so found. … The Commissioner must clearly and accurately establish the opening net worth of the taxpayer by competent evidence. See Manzoli v. Commissioner, supra at 104; United States v.

Whalley v. Commissioner

72 T.C.M. 1422 · United States Tax Court · Dec 2, 1996

Accordingly, under present law, use of a home office that fails to qualify under section 280A is to be treated as personal in nature for purposes of deducting any related expenses. Id. at 357. … This is clearly a personal nondeductible living expense under section 262. L.

Estate of Hinz v. Commissioner

79 T.C.M. 53707 · United States Tax Court · Jan 6, 2000

At trial, both sides presented the testimony of expert witnesses to establish the fair market values of the Subject Properties. … We do not believe that respondent’s failure to respond more clearly and legibly23 contributed to Christy’s misunderstanding.

Trustmark Corp. v. Commissioner

67 T.C.M. 2764 · United States Tax Court · Apr 28, 1994

It further certified its approval for petitioner to establish branch offices at the banking locations of the Acquired Bank. … Nelson, the most qualified of the statistical experts to testify in this case, was more charitable. He indicated that while Dr. Doerfler's report was "very difficult reading" and Dr.

Baldwin v. Commissioner

18 T.C.M. 902 · United States Tax Court · Oct 28, 1959

Petitioner called two expert witnesses, both eminently qualified, to testify as to the values of the above and other properties. … Attorney fees and related expenses incurred therein would, we think, clearly have been deductible.

Kindschi v. Commissioner

39 T.C.M. 638 · United States Tax Court · Dec 6, 1979

Once enough investors were committed, Armstrong and Optiz intended to establish a limited partnership to purchase the Chapel Hill apartments from Grandlich. … Grandlich $2,225,000 for the appartments as of June 1, 1972, if the value of the apartments fell below $2,225,000 after June 1, 1972, the partnership bore the risk of this form of economic depreciation and such a risk is clearly

Moskovitz v. Commissioner

52 T.C.M. 98 · United States Tax Court · Aug 6, 1986

Innocent Spouse Provision -- Section 6013(e) Petitioners have sought to qualify Mr. Moskovitz for relief from liability under the innocent spouse provision found in section 6013(e) . … It is also well-established that embezzled funds are includable in gross income. James v. United States, 366 U.S. 213 (1961) .

Armes v. Commissioner

32 T.C.M. 385 · United States Tax Court · Apr 17, 1973

Respondent established, as noted in our Findings, that Edmund L. … In many cases, his testimony 47 was in direct contradiction either to what he had previously said or to other facts clearly established in the record. 14 Petitioner's obvious attempt to slant the record in his own behalf

Beauty Acquisition Corp. v. Commissioner

69 T.C.M. 1971 · United States Tax Court · Mar 2, 1995

We must decide whether petitioner's distribution ot its shareholders of a disputed claim for specific performance of a contract petitioner had entered into with Revlon, Inc., qualifies for nonrecognition treatment under either … Commissioner , 9 T.C. 364 (1947) , affd. 170 F.2d 911 (2d Cir. 1948) , contending that, to clearly reflect income, the income realized from the settlement of the disputed contract claim should be allocated *119 to Shea Co

Prompt Foods Corp. v. Commissioner

55 T.C.M. 1397 · United States Tax Court · Jul 29, 1988

Rule 142(a). 18 *396 Unfortunately, while the record clearly establishes that some cattle existed, we are unable to determine, based on the record in this case, the extent to which the cattle were owned by Financial, the … Had petitioners acted in conformance with the agreements (which appear to be legally enforceable contracts), perhaps their activities would have qualified them for the tax results flowing from such activity.

Llwellyn Greene-Thapedi v. Commissioner

126 T.C. No. 1 · United States Tax Court · Jan 12, 2006

The Revenue Act of 1926, ch. 27, 44 Stat. 9, established the Board’s jurisdiction to determine an overpayment in a deficiency proceeding. … Petitioner has not alleged, and the record does not suggest, that she qualifies for abatement of interest under the applicable version of sec. 6404(e), which would require unreasonable error or delay resulting from a “ministerial

Marcus v. Commissioner

23 T.C.M. 1240 · United States Tax Court · Aug 4, 1964

Such portion would clearly be of a capital nature and hence nondeductible. Munson v. McGinnes, (C.A. 3) 283 F. 2d 333 , certiorari denied 364 U.S. 880 , and Spangler v. … Clearly such portions do not constitute deductible expenses under section 212 .

Hartman v. Comm'r

97 T.C.M. 1649 · United States Tax Court · Jun 1, 2009

We stated that we believed that the answers to the questions might eliminate the need for a hearing to establish facts  - 21 - concerning the posttrial conduct of respondent’s management. … We specifically noted our prior Dixon order and stated: “Footnote 2 of the Dixon order clearly indicates that the Court believed that item 123 was relevant to allegations of respondent’s misconduct raised by petitioners

CALARCO v. COMISSIONER OF INTERNAL REVENUE

2004 T.C. Summary Opinion 94 · United States Tax Court · Jul 20, 2004

We cannot imagine an individual better qualified for the playwriting trade than petitioner. … Clearly playwriting is something petitioner enjoys. Nevertheless, pleasure is not irreconcilable with a profit motive. Schwartz v. Commissioner, T.C. Memo. 2003- 86.