Legal Opinion
Stephen B. McEachron and Mary Jane McEachron v. Commissioner of Internal Revenue
Court of Appeals for the Eighth Circuit
Decided November 30, 1988No. 88-1176PublishedCited by 7 opinions
1Opinion of the Court
FAGG, Circuit Judge.
Stephen B. McEachron and Mary Jane McEachron appeal the Tax Court’s decision confirming federal income tax deficiencies assessed for 1980 and 1981 against them and two other taxpayers by the Commissioner of Internal Revenue (the Commissioner). See Owen v. Commissioner, 53 T.C.M. (CCH) 1480 (1987). The Tax Court held the McEachrons were not entitled to an investment tax credit for equipment leased to a related corporation by a business in which Mr. McEachron was a partner. The court also held the McEachrons were required to recognize gain on the later sale of the leased…
2Cases cited4 opinions
- Ragnar v. Hokanson and Marilyn L. Hokanson v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1984
- Donald G. McNamara and Valerie J. McNamara and Robert F. Christiansen and Lucille L. Christiansen v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1987
- Eugene R. Connor and Mary P. Connor v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1988
- Owen v. CommissionerUnited States Tax Court · 1987
3Cited by7 opinions
- Borchers v. CommissionerUnited States Tax Court · 1990
- Richard J. Borchers Jane E. Borchers v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1991
- Albert E. Schumacher and Eunice A. Schumacher v. The United States of AmericaCourt of Appeals for the Tenth Circuit · 1991
- Peter Schiff v. United StatesCourt of Appeals for the Sixth Circuit · 1991
- Borchers v. CommissionerUnited States Tax Court · 1990
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