Oakes v. Comm'r
United States Tax Court
In 1953 and 1954 Oakes, a physician, and his wife had constructed, on land they owned jointly, a building which was used in his medical practice. On December 31, 1956, they created an 11-year Clifford trust for the benefit of his four minor children, naming a bank as trustee. The land and building were conveyed to the trustee by the trust agreement. On January 2, 1957, the trustee leased the building back to Oakes for continued use in practicing his profession.
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In 1953 and 1954 Oakes, a physician, and his wife had constructed, on land they owned jointly, a building which was used in his medical practice. On December 31, 1956, they created an 11-year Clifford trust for the benefit of his four minor children, naming a bank as trustee. The land and building were conveyed to the trustee by the trust agreement. On January 2, 1957, the trustee leased the building back to Oakes for continued use in practicing his profession. A reasonable rent of $ 1,500 per annum was agreed to. By deed executed on April 28, 1959, Oakes assigned his future interest in the…
1Opinion of the Court
OPINION
Dawson, Judge:
Respondent determined the following deficiencies in the income tax of petitioners:
Taxable year Deficiency
1959 _$825.46
1960 _ 75.46
1961_ 832.38
The only issue for decision is whether payments made in these years by petitioner, Alden B. Oakes, to a trust as rental for a medical building are deductible as ordinary and necessary business expenses under the provisions of section 162 (a) (3).1
All of the facts have been stipulated by the parties. The stipulation of facts and exhibits attached thereto are incorporated herein by this reference. The facts necessary to our inquiry…
2Cases cited14 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. TowerSupreme Court of the United States · 1946
- United States v. Cumberland Public Service Co.Supreme Court of the United States · 1950
- United States v. IshamSupreme Court of the United States · 1873
- Skemp v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1948
9 more not listed; retrieve them via the Exa API.
3Cited by36 opinions
- Skripak v. CommissionerUnited States Tax Court · 1985
- Furman v. CommissionerUnited States Tax Court · 1966
- Mathews v. CommissionerUnited States Tax Court · 1973
- Pityo v. CommissionerUnited States Tax Court · 1978
- Stephenson Trust v. CommissionerUnited States Tax Court · 1983
31 more not listed; retrieve them via the Exa API.