Markman v. Commissioner
United States Tax Court
Petitioner-husband operated a dental practice and engaged in the trade or business of horse racing during 1975 and 1976. Held: (1) Petitioner-husband's dental practice income for 1975 and 1976 was underreported. Amounts determined. (2) Petitioner-husband's loss from horse racing in 1975 did not exceed the amount stipulated to by the parties. (3) Petitioners are liable for an addition to tax under sec. 6653(a), I.R.C. 1954, for 1976.
1Opinion of the Court
DANIEL A. MARKMAN and ESTATE OF IRIS M. MARKMAN, DANIEL A. MARKMAN, ADMINISTRATOR, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Markman v. Commissioner
Docket Nos. 9506-79, 20381-80.
United States Tax Court
T.C. Memo 1987-407; 1987 Tax Ct. Memo LEXIS 404; 54 T.C.M. (CCH) 154; T.C.M. (RIA) 87407;
August 20, 1987.
Petitioner-husband operated a dental practice and engaged in the trade or business of horse racing during 1975 and 1976.
Held: (1) Petitioner-husband's dental practice income for 1975 and 1976 was underreported. Amounts determined.(2) Petitioner-husband's loss from horse…
2Cases cited32 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Helvering v. TaylorSupreme Court of the United States · 1935
- Bixby v. CommissionerUnited States Tax Court · 1972
- Tokarski v. CommissionerUnited States Tax Court · 1986
27 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Cruz v. CommissionerUnited States Tax Court · 1990
- Martin v. CommissionerUnited States Tax Court · 1988