Samore v. Olson (In Re Olson)

ORDER

DONALD E. O’BRIEN, Chief Judge.

This bankruptcy appeal is before the court on the merits of the appeal. The parties have presented the court with a single issue: whether a trustee's abandonment of property is an event taxable to the bánkruptcy estate, or to the debtors individually. The trustee, the Internal Revenue Service, and Iowa Department of Revenue and Finance have argued that the event is taxable to the debtors. The debtors, of course, seek to have the bankruptcy estate pay the taxes. The court has carefully considered the issue before it and agrees with the bankruptcy court below…