Kreiner v. Commissioner
United States Tax Court
In 1984, petitioner gave money to fortunetellers. These transactions occurred in the State of New York. Petitioner discovered the theft in 1984. Petitioner claimed a theft loss deduction for the amount of money given to the fortunetellers. Held: Under New York law, fortunetelling is a crime. Held further: Under New York law, the crime of fortunetelling constitutes an inchoate theft offense.
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In 1984, petitioner gave money to fortunetellers. These transactions occurred in the State of New York. Petitioner discovered the theft in 1984. Petitioner claimed a theft loss deduction for the amount of money given to the fortunetellers. Held: Under New York law, fortunetelling is a crime. Held further: Under New York law, the crime of fortunetelling constitutes an inchoate theft offense. Held further: Petitioner is entitled to a theft loss deduction in 1984 for monies given to fortunetellers in 1984. Held further: Petitioner is not entitled to a theft loss deduction for amounts lost in a…
1Opinion of the Court
GEORGE JOHN KREINER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Kreiner v. Commissioner
Docket No. 7634-88
United States Tax Court
T.C. Memo 1990-587; 1990 Tax Ct. Memo LEXIS 662; 60 T.C.M. (CCH) 1251; T.C.M. (RIA) 90587;
November 15, 1990, Filed
Decision will be entered under Rule 155.
In 1984, petitioner gave money to fortunetellers. These transactions occurred in the State of New York. Petitioner discovered the theft in 1984. Petitioner claimed a theft loss deduction for the amount of money given to the fortunetellers. Held: Under New York law, fortunetelling is a crime. Held…
2Cases cited16 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Helvering v. TaylorSupreme Court of the United States · 1935
- Neely v. CommissionerUnited States Tax Court · 1985
- Bixby v. CommissionerUnited States Tax Court · 1972
- Wichita Term. El. Co. v. Commissioner of Int. R.Court of Appeals for the Tenth Circuit · 1947
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