Legal Opinion
Biedenharn Realty Co. v. United States
District Court, W.D. Louisiana
Decided March 20, 1973No. Civ. A. Nos. 16798-16800PublishedCited by 5 opinions
1Opinion of the Court
DAWKINS, Chief Judge.
OPINION
This controversy brings before us the “old, familiar, recurring, vexing and ofttimes elusive” problem of whether to treat profit arising out of sales of subdivided real estate as capital gains or ordinary income.
In United States v. Winthrop, 417 F.2d 905 (5th Cir., 1969), the Fifth Circuit *1332chose the ad hoc approach is reaching a solution to that controversy. Here, we take the same approach.
Of course, the applicable statutory provision is 26 U.S.C. § 1221:
Capital Asset Defined
“For purposes of this subtitle, the term ‘capital asset’ means property held by the…
2Cases cited12 opinions
- Malat v. RiddellSupreme Court of the United States · 1966
- United States v. Ada Belle Winthrop, Individually and as Under the Will of Guy L. Winthrop, DeceasedCourt of Appeals for the Fifth Circuit · 1969
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Fritz Thompson and Dora M. Thompson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
7 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Biedenharn Realty Co. v. United StatesCourt of Appeals for the Fifth Circuit · 1976
- Casalina Corp. v. CommissionerUnited States Tax Court · 1973
- Biedenharn Realty Company, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1975
- BIEDENHARN REALTY COMPANY, INC. v. United StatesDistrict Court, W.D. Louisiana · 1973
- Casalina Corp. v. CommissionerUnited States Tax Court · 1973