Travis v. Commissioner
United States Tax Court
Petitioner Doris Eaton Travis operated dance studios as a sole proprietor during January 1958, and during the remainder of that year through a subchapter S corporation of which she was the sole shareholder. Receipts from the business were reported on the cash basis, but expenses were accrued.
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Petitioner Doris Eaton Travis operated dance studios as a sole proprietor during January 1958, and during the remainder of that year through a subchapter S corporation of which she was the sole shareholder. Receipts from the business were reported on the cash basis, but expenses were accrued. Held: 1. The corporation was required to include in income amounts due and payable at the end of 1958 under contracts to give dancing lessons. 2. The corporation was required to include in income the amounts added to a reserve account with a finance company during 1958 and attributable to the sale of…
1Opinion of the Court
FORRESTER, Judge:
Respondent determined a deficiency in the income tax of the petitioners in the amount of $244,247.51 for the taxable year ending December 31,1958.
Some of the issues have been settled by stipulation, leaving for our consideration the following questions:
Whether the subchapter S corporation of which the petitioner Doris Eaton Travis was the sole shareholder was required to include in income amounts which became due and payable during 1958 under contracts to give dancing lessons ;
Whether the corporation and/or Doris were required to include in income amounts credited to a…
2Cases cited25 opinions
- Spring City Foundry Co. v. CommissionerSupreme Court of the United States · 1934
- Commissioner v. HansenSupreme Court of the United States · 1959
- Schulde v. CommissionerSupreme Court of the United States · 1963
- Pacific National Co. v. WelchSupreme Court of the United States · 1938
- Caldwell v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. CaldwellCourt of Appeals for the Second Circuit · 1953
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3Cited by19 opinions
- Dougherty v. CommissionerUnited States Tax Court · 1973
- Dearborn Gage Co. v. CommissionerUnited States Tax Court · 1967
- Thomas v. CommissionerUnited States Tax Court · 1989
- Paul H. And Doris E. Travis, Petitioners-Respondents v. Commissioner of Internal Revenue, Respondent-PetitionerCourt of Appeals for the Sixth Circuit · 1969
- Maryland Savings-Share Insurance v. United StatesUnited States Court of Claims · 1981
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