Liddle v. Commissioner
United States Tax Court
P claimed a depreciation deduction under the accelerated cost recovery system (ACRS), sec. 168, I.R.C., on a 17th-century Ruggeri bass viol (viol) that he used in his trade or business as a full-time professional musician. R disallowed the deduction, stating in her notice of deficiency that the viol "in fact will appreciate in value and not depreciate."
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P claimed a depreciation deduction under the accelerated cost recovery system (ACRS), sec. 168, I.R.C., on a 17th-century Ruggeri bass viol (viol) that he used in his trade or business as a full-time professional musician. R disallowed the deduction, stating in her notice of deficiency that the viol "in fact will appreciate in value and not depreciate." Held, P is entitled to a depreciation deduction under ACRS because the viol meets the four-prong test enunciated in Simon v. Commissioner, 103 T.C. 247 (1994); the viol: (1) Is tangible personal property, (2) was placed in service after 1980,…
1Opinion of the Court
Laro, Judge:
This case was assigned to and heard by Special Trial Judge Carleton D. Powell pursuant to section 7443A(b)(3) of the Internal Revenue Code, and pursuant to Rules 180, 181, and 182, Tax Court Rules of Practice and Procedure. The case is now assigned to Judge David Laro. The Court agrees with and adopts the findings of fact of the Special Trial Judge, who reached a contrary legal conclusion.
Brian P. and Brenda H. Liddle petitioned the Court for redetermination of respondent’s determinations reflected in a notice of deficiency issued to them on November 20, 1991. The notice reflected…
2Cases cited17 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
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- American Tobacco Co. v. PattersonSupreme Court of the United States · 1982
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- Brian P. Liddle Brenda H. Liddle v. Commissioner of the Internal Revenue ServiceCourt of Appeals for the Third Circuit · 1995
- Tschetschot v. Comm'rUnited States Tax Court · 2007
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