Beeghly v. Commissioner
United States Tax Court
Severance Damage or Income -- Sale Under Threat of Condemnation. -- A portion of the payment received by the petitioners for a right-of-way cutting diagonally through their farm, sold to the State under threat of condemnation, was attributable to the damage resulting to the retained portion of their farm.
1Opinion of the Court
OPINION.
Murdock, Judge:
The Commissioner determined a deficiency in income tax of the petitioners of $2,185.74 for 1953 and one of $2,864.15 for 1954. The only assignment of error is as follows:
The Commissioner erred in holding that the proceeds of the settlement with petitioners made by the Turnpike Commission on March 14, 1953, should be allocated entirely to capital gain; and in refusing to apportion $16,000 of said proceeds to damages to the residue of the taxpayers’ lands, which remained after the appropriation proceedings were finished.
The facts of record have been introduced by a…
2Cited by11 opinions
- Peter Vaira and Mary L. Vaira v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1971
- Vaira v. CommissionerUnited States Tax Court · 1969
- Graphic Press, Inc. v. CommissionerUnited States Tax Court · 1973
- Johnston v. CommissionerUnited States Tax Court · 1964
- The E. R. Hitchcock Co. v. United StatesCourt of Appeals for the Second Circuit · 1975
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