Hendrich v. Commissioner
United States Tax Court
Held, losses incurred by petitioners from commodity futures transactions in 1974 are deductible as capital losses; held further, petitioners are not entitled to elect the additional first-year allowance for depreciation on delinquently filed income tax returns for 1973 and 1974; held further, the addition to tax for failing to timely file their 1973 and 1974 income tax returns imposed upon petitioners.
1Opinion of the Court
CLARENCE EDWARD HENDRICH and WILLA VAE HENDRICH, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Hendrich v. Commissioner
Docket No. 280-78.
United States Tax Court
T.C. Memo 1980-322; 1980 Tax Ct. Memo LEXIS 265; 40 T.C.M. (CCH) 997; T.C.M. (RIA) 80322;
August 18, 1980, Filed
Held, losses incurred by petitioners from commodity futures transactions in 1974 are deductible as capital losses; held further, petitioners are not entitled to elect the additional first-year allowance for depreciation on delinquently filed income tax returns for 1973 and 1974; held further, the addition to tax…
2Cases cited10 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Sharon v. CommissionerUnited States Tax Court · 1976
- Shomaker v. CommissionerUnited States Tax Court · 1962
- Sicanoff Vegetable Oil Corp. v. CommissionerUnited States Tax Court · 1957
- Mitchell v. CommissionerUnited States Tax Court · 1964
5 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Raymond Day and Anna Joyce Day v. United States of America, William L. Day and Jane A. Day v. United StatesCourt of Appeals for the Eighth Circuit · 1984