Horrmann v. Commissioner
United States Tax Court
The family residence of petitioner's mother was acquired by petitioner by devise upon the death of his mother in February 1940. Petitioner redecorated and moved into the family residence and sold his own home. The newly acquired home was found to be unsuitable and petitioner abandoned it as a residence in October 1942. After making several unsuccessful attempts to rent or to sell the property it was finally sold in June 1945, at a loss.
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The family residence of petitioner's mother was acquired by petitioner by devise upon the death of his mother in February 1940. Petitioner redecorated and moved into the family residence and sold his own home. The newly acquired home was found to be unsuitable and petitioner abandoned it as a residence in October 1942. After making several unsuccessful attempts to rent or to sell the property it was finally sold in June 1945, at a loss. Held, after October 1942, the property was held for the production of income and petitioner is entitled to deductions for depreciation, section 23 (l) (2),…
1Opinion of the Court
OPINION.
Black, Judge:
Three issues are presented in this proceeding. All issues relate to the real property, residence and garage, at 189 Howard Avenue, Staten Island, New York, which was acquired by petitioner by a devise from his mother upon her death in February 1940.
Petitioner redecorated the house and moved into it about October 1940. Shortly thereafter petitioner sold the residence in which he was living prior to October 1940. The property at 189 Howard Avenue was used by petitioner as his personal residence until October 1942, at which time petitioner abandoned the house. Petitioner,…
2Cases cited7 opinions
- Robinson v. CommissionerUnited States Tax Court · 1943
- Grammer v. CommissionerUnited States Tax Court · 1949
- Rumsey v. CommissionerCourt of Appeals for the Second Circuit · 1936
- Morgan v. COMMISSIONER OF INTERNAL REVENUECourt of Appeals for the Fifth Circuit · 1935
- Crawford v. CommissionerUnited States Tax Court · 1951
2 more not listed; retrieve them via the Exa API.
3Cited by61 opinions
- Riss v. CommissionerUnited States Tax Court · 1971
- Johnson v. CommissionerUnited States Tax Court · 1973
- Walet v. CommissionerUnited States Tax Court · 1958
- Newcombe v. CommissionerUnited States Tax Court · 1970
- Hoopengarner v. CommissionerUnited States Tax Court · 1983
56 more not listed; retrieve them via the Exa API.