Zimmerman v. Commissioner
United States Tax Court
Held, the useful lives of petitioners' three motels determined. Held, further: The useful life of petitioners' antique car museum is not so linked to that of the motel located on the same premises that their useful lives will terminate simultaneously. The useful life of the antique car museum determined.
1Opinion of the Court
Sterrett, Judge:
Respondent determined deficiencies in petitioners’ Federal income taxes for the calendar years 1968 and 1969 in the amounts of $79,556.06 and $72,170.35, respectively. The sole issue for decision is whether petitioners are entitled to depreciation deductions on three motels and an antique car museum in excess of those determined by respondent by reason of claimed economic obsolescence which petitioners assert has rendered their respective useful lives shorter than those determined by respondent.
FINDINGS OF FACT
Petitioners Eugene W. Zimmerman and Irene F. Zimmerman, husband and…
2Cases cited13 opinions
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- Southeastern Bldg. Corp. v. Commissioner of Int. Rev.Court of Appeals for the Fifth Circuit · 1945
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