Williams v. Commissioner
United States Tax Court
Petitioner was a real estate salesman for Dart Industries. He received a commission from Dart Industries for each real estate purchase transaction he arranged between Dart Industries and a purchaser. In 1971, petitioner purchased some properties from Dart Industries for his own account, receiving a 10-percent commission on each transaction.
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Petitioner was a real estate salesman for Dart Industries. He received a commission from Dart Industries for each real estate purchase transaction he arranged between Dart Industries and a purchaser. In 1971, petitioner purchased some properties from Dart Industries for his own account, receiving a 10-percent commission on each transaction. Held, petitioner may not exclude from gross income the real estate commissions he received from transactions in which he purchased property for his own account. Commissioner v. Daehler, 281 F. 2d 823 (5th Cir. 1960), revg. 31 T.C. 722 (1959), followed.
1Opinion of the Court
OPINION
Dawson, Chief Judge:
Respondent determined a deficiency of $2,270 in petitioner’s Federal income tax for the year 1971. The issues presented for our decision are (1) whether the petitioner, a real estate salesman, may exclude from his gross income commissions received from transactions in which he purchased property for his own account, and (2) whether the petitioner, who later reacquired property from a third person to whom he originally sold that same property, may exclude from gross income commissions he received on the initial sale of the property to that third person.
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2Cases cited6 opinions
- A. J. Ostheimer, 3rd, Ruth M. Ostheimer v. United StatesCourt of Appeals for the Third Circuit · 1959
- Commissioner of Internal Revenue v. Sol Minzer and Adele MinzerCourt of Appeals for the Fifth Circuit · 1960
- Benjamin v. HoeyCourt of Appeals for the Second Circuit · 1944
- Commissioner of Internal Revenue v. Kenneth W. Daehler and Mary Daehler, His WifeCourt of Appeals for the Fifth Circuit · 1960
- Bailey v. CommissionerUnited States Tax Court · 1964
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