Legal Opinion
Kinney v. United States
District Court, W.D. Louisiana
Decided March 24, 1964No. Civ. A. 9351PublishedCited by 11 opinions
1Opinion of the Court
HUNTER, Judge.
This is an action for the recovery of $10,679.37, plus interest, paid as income tax for the year 1958.
QUESTION PRESENTED
Whether the loss of $36,971.81 should be treated as an ordinary loss, as contended by the taxpayers, or as a capital loss, as contended by the Government.
STATUTES AND REGULATIONS INVOLVED
The pertinent statutes and Regulations are:
Internal Revenue Code of 1954:
Ҥ 708. Continuation of partnership
“(a) General Rule. — For purposes of this subchapter, an existing partnership shall be considered as continuing if it is not terminated.
“(b) Termination.—
“ (1) General…
2Cases cited17 opinions
- Blodgett v. SilbermanSupreme Court of the United States · 1928
- Commissioner of Internal Revenue v. Ashland Oil & Refining Co.Court of Appeals for the Sixth Circuit · 1938
- Williams v. McGowanCourt of Appeals for the Second Circuit · 1945
- Estate of H. H. Weinert, Deceased, Jane W. Blumberg, and Hilda B. Weinert v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1961
- Prairie Oil & Gas Co. v. MotterCourt of Appeals for the Tenth Circuit · 1933
12 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Redwing Carriers, Inc. v. TomlinsonCourt of Appeals for the Fifth Circuit · 1968
- Baker Commodities, Inc., a California Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1969
- Maxcy v. CommissionerUnited States Tax Court · 1973
- Redwing Carriers, Inc. v. TomlinsonCourt of Appeals for the Fifth Circuit · 1968
- Henry Kinney and Anita Kinney v. United StatesCourt of Appeals for the Fifth Circuit · 1966
6 more not listed; retrieve them via the Exa API.