Legal Opinion
Kirby H. Jackson and Robert L. Phinney v. C. E. King and Juanita M. King
Court of Appeals for the Fifth Circuit
Decided June 24, 1955No. 15403_1PublishedCited by 54 opinions
1Opinion of the Court
TUTTLE, Circuit Judge.
The question presented in the court below was whether the appellees realized ordinary income or capital gains from the sale of 49 houses in 1947 and 46 houses in 1948, which were owned by them as community property. Appellees having reported the amounts in question as capital gains, appellants, Acting Collectors of Internal Revenue for the First District of Texas, assessed and collected deficiencies totalling $72,597.01, based on their finding that the houses were held primarily for sale to customers in the ordinary course of trade or business, and that the gains were…
2Cases cited5 opinions
- Commissioner v. SunnenSupreme Court of the United States · 1948
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- King v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1951
- Scarborough v. Atlantic Coast Line R. Co.Court of Appeals for the Fourth Circuit · 1951
- Feldmann v. CONNECTICUT MUT. LIFE INS. CO., ETC.Court of Appeals for the Eighth Circuit · 1944
3Cited by54 opinions
- Lawrence R. Sperberg v. Goodyear Tire & Rubber Co.Court of Appeals for the Sixth Circuit · 1975
- Morris A. Hicks, on Behalf of Himself and All Others Similarly Situated v. The Quaker Oats CompanyCourt of Appeals for the Fifth Circuit · 1981
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Jones v. MilesCourt of Appeals for the Fifth Circuit · 1981
- Oscar J. Marshall v. Isthmian Lines, Inc.Court of Appeals for the Fifth Circuit · 1964
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