Zacek v. Commissioner
United States Tax Court
Deduction by a mortgagor of his loss from an involuntary foreclosure sale of the mortgaged property to members of his family, held, precluded by section 24 (b) (1) (A) of the Internal Revenue Code.
1Opinion of the Court
OPINION.
LeMire, Judge-.
This proceeding involves a deficiency of $151.94 in the petitioners’ income tax for 1941. The only issue is whether a deduction was properly disallowed as a loss from a sale between members of a family under section 24 (b) (1) (A) of the Internal Revenue Code.1
The parties have filed a stipulation of facts, which is hereby adopted as our findings of fact. The material facts may be summarized as follows:
The petitioners are husband and wife, residing in Omaha, Nebraska. They filed a joint return with the collector of internal revenue for the district of Nebraska. The…
2Cases cited3 opinions
- Helvering v. HammelSupreme Court of the United States · 1941
- Hatch v. SholdNebraska Supreme Court · 1901
- Orr v. BroadNebraska Supreme Court · 1897
3Cited by14 opinions
- Frank C. Davis, Jr. And Frank C. Davis, Jr., of the Estate of Grace K. Davis v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1989
- Robert H. McNeill v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1958
- Hassen v. CommissionerUnited States Tax Court · 1974
- Merritt v. CommissionerUnited States Tax Court · 1967
- McNeill v. CommissionerUnited States Tax Court · 1957
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