Legal Opinion
Commissioner of Internal Revenue v. Green
Court of Appeals for the Third Circuit
Decided February 10, 1942No. 7835PublishedCited by 11 opinions
1Opinion of the Court
JONES, Circuit Judge.
The question here involved is whether the respondent taxpayers (husband and wife) are entitled to deduct as an ordinary loss in the year 1935 the base net cost to the husband of real estate held by him for profit which he abandoned in that year to the mortgagee thereof or whether they are limited to a deduction as for a loss from the sale of a capital asset in 1936 when the property was sold at sheriff’s sale upon foreclosure of the mortgage.
The parties are in agreement with respect to the net cost basis of the property, so that the quantum of the loss, as such, is not in…
2Cases cited10 opinions
- Helvering v. National Grocery Co.Supreme Court of the United States · 1938
- Helvering v. HammelSupreme Court of the United States · 1941
- Electro-Chemical Engraving Co. v. CommissionerSupreme Court of the United States · 1941
- Helvering v. Nebraska Bridge Supply & Lumber Co.Supreme Court of the United States · 1941
- Commissioner of Internal Revenue v. HoffmanCourt of Appeals for the Second Circuit · 1941
5 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Middleton v. CommissionerUnited States Tax Court · 1981
- James W. Yarbro and Mary E. Yarbro v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Fifth Circuit · 1984
- Helvering v. GordonCourt of Appeals for the Fourth Circuit · 1943
- Blum v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1943
- Commissioner of Internal Revenue v. CraneCourt of Appeals for the Second Circuit · 1946
6 more not listed; retrieve them via the Exa API.