Friend v. Commissioner
United States Board of Tax Appeals
1. During the years 1934 and 1935 the estate of Henry Friend received rentals upon property owned by the estate which was leased for long terms of years to the S. S. Kresge Co. and F. W. Woolworth Co. Petitioners claim the right to deduct from the gross rentals amortization of the capitalized values of the rents to be received under the leases.
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1. During the years 1934 and 1935 the estate of Henry Friend received rentals upon property owned by the estate which was leased for long terms of years to the S. S. Kresge Co. and F. W. Woolworth Co. Petitioners claim the right to deduct from the gross rentals amortization of the capitalized values of the rents to be received under the leases. Held, that the petitioners are not entitled to such deductions. 2. The estate of Henry Friend claims the right to deduct from gross income for the years 1934 and 1935 allowances for depreciation in excess of those allowed by the respondent in the…
1Opinion of the Court
OPINION.
Smith:
These proceedings, consolidated for hearing, involve income tax deficiencies for the years 1934 and 1935 of $12,088.76 and $7,952.16, respectively. The petitioners allege that the respondent erred:(1) In the determination of the net rentals from real property in the disallowance of:
a. Amortization of leaseholds upon property located at 6308-6314 South Halsted Street, Chicago;
b. Reasonable amounts for depreciation upon rental properties during each of the taxable years;
c. Legal expenses for 1934 in the amount of $1,290.35.(2) In the disallowance of the deduction of taxes which…
2Cases cited5 opinions
- Irwin v. GavitSupreme Court of the United States · 1925
- Cole v. ColeIllinois Supreme Court · 1920
- Wolf v. UhlemannIllinois Supreme Court · 1927
- Cotterell v. CoenIllinois Supreme Court · 1910
- VanZanten v. VanZantenIllinois Supreme Court · 1915
3Cited by20 opinions
- Commissioner of Internal Revenue v. Moore. Moore v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1953
- Koch v. CommissionerUnited States Tax Court · 1978
- Pardee v. CommissionerUnited States Tax Court · 1967
- Schubert v. CommissionerUnited States Tax Court · 1960
- Rosalie M. Schubert v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1961
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