Ross v. Commissioner
United States Tax Court
Petitioners owned a lakefront residence on Lake Erie. In 1973 petitioners built a breakwall to protect against erosion. During 1974 approximately 45 percent of this breakwall was destroyed by severe storms, and a casualty loss deduction was allowed therefor.
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Petitioners owned a lakefront residence on Lake Erie. In 1973 petitioners built a breakwall to protect against erosion. During 1974 approximately 45 percent of this breakwall was destroyed by severe storms, and a casualty loss deduction was allowed therefor. The remaining portion of the wall was destroyed by two severe storms in 1975. As a result petitioners claimed a casualty loss deduction of $8,025. Held, petitioners have established that the diminution in the value of their property in 1975 was at least equal to the amount of the casualty loss claimed and therefore they are entitled to…
1Opinion of the Court
GENE W. ROSS AND BERNICE H. ROSS, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Ross v. Commissioner
Docket No. 18955-80.
United States Tax Court
T.C. Memo 1982-545; 1982 Tax Ct. Memo LEXIS 206; 44 T.C.M. (CCH) 1177; T.C.M. (RIA) 82545;
September 21, 1982.
Petitioners owned a lakefront residence on Lake Erie. In 1973 petitioners built a breakwall to protect against erosion. During 1974 approximately 45 percent of this breakwall was destroyed by severe storms, and a casualty loss deduction was allowed therefor. The remaining portion of the wall was destroyed by two severe storms in…
2Cases cited7 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Helvering v. OwensSupreme Court of the United States · 1939
- Lamphere v. CommissionerUnited States Tax Court · 1978
- White v. CommissionerUnited States Tax Court · 1967
- Austin Clapp, Gloria Clapp, Stuart P. Clapp, and Virginia M. Clapp v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1963
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