Estate of Thomas v. Commissioner
United States Tax Court
Held, lessor partnership is true owner of computer equipment for tax purposes; petitioners may not amortize equity placement fee over life of partnership.
1Opinion of the Court
Estate of Jerry Thomas (Deceased), Imogene Thomas, Administratrix, and Imogene Thomas, et al., 1 Petitioners v. Commissioner of Internal Revenue, Respondent
Estate of Thomas v. Commissioner
Docket Nos. 17715-81, 16415-82, 512-83, 1466-83, 1472-83, 1475-83, 1496-83, 1497-83, 1498-83, 1499-83, 1500-83, 1502-83, 5073-83, 9698-83
United States Tax Court
84 T.C. 412; 1985 U.S. Tax Ct. LEXIS 106; 84 T.C. No. 32;
March 14, 1985. March 14, 1985, Filed
Decisions will be entered under Rule 155.
Held, lessor partnership is true owner of computer equipment for tax purposes; petitioners may not amortize equity…
2Cases cited53 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Higgins v. SmithSupreme Court of the United States · 1940
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Frank Lyon Co. v. United StatesSupreme Court of the United States · 1978
- Commissioner v. BrownSupreme Court of the United States · 1965
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