Aksomitas v. Commissioner
United States Tax Court
Petitioner was transferred from his place of employment in Connecticut to Florida in the year 1961. In the summer of 1962, his family also moved to Florida. In August of 1964 petitioner employed a pilot and crew to bring his 45-foot yacht from Connecticut to Florida. During the course of the voyage south the propeller shaft snapped and considerable water damage was suffered.
Read the full summary
Petitioner was transferred from his place of employment in Connecticut to Florida in the year 1961. In the summer of 1962, his family also moved to Florida. In August of 1964 petitioner employed a pilot and crew to bring his 45-foot yacht from Connecticut to Florida. During the course of the voyage south the propeller shaft snapped and considerable water damage was suffered. Held: Petitioner has not proved that the damage to his yacht was the result of shipwreck or other casualty. He is not entitled to deduct any amount as a loss under sec. 165(c)(3), I.R.C. 1954. Additionally, petitioner…
1Opinion of the Court
William E. Aksomitas, Petitioner v. Commissioner of Internal Revenue, Respondent
Aksomitas v. Commissioner
Docket No. 252-67
United States Tax Court
50 T.C. 679; 1968 U.S. Tax Ct. LEXIS 90;
July 31, 1968, Filed
Decision will be entered for the respondent.
Petitioner was transferred from his place of employment in Connecticut to Florida in the year 1961. In the summer of 1962, his family also moved to Florida. In August of 1964 petitioner employed a pilot and crew to bring his 45-foot yacht from Connecticut to Florida. During the course of the voyage south the propeller shaft snapped and considerable…
2Cases cited3 opinions
- White v. CommissionerUnited States Tax Court · 1967
- Barney v. MaySupreme Court of Minnesota · 1917
- Aksomitas v. CommissionerUnited States Tax Court · 1968