Hunter v. Commissioner
United States Tax Court
During the years 1957 to 1974, petitioner acquired interests in a number of business enterprises. These interests generally were acquired by petitioner with a view to increasing their value through his personal efforts and through the infusion of capital. In 1970 petitioner incorporated General Illumination as sole shareholder. Thereafter, he executed guaranties of a number of loans to General Illumination from various creditors.
Read the full summary
During the years 1957 to 1974, petitioner acquired interests in a number of business enterprises. These interests generally were acquired by petitioner with a view to increasing their value through his personal efforts and through the infusion of capital. In 1970 petitioner incorporated General Illumination as sole shareholder. Thereafter, he executed guaranties of a number of loans to General Illumination from various creditors. In 1973 General Illumination declared bankruptcy and petitioner was required to honor the guaranties in the amount of $287,437.42. Held, the guaranties did not…
1Opinion of the Court
JOHN C. HUNTER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Hunter v. Commissioner
Docket No. 11519-78.
United States Tax Court
T.C. Memo 1982-381; 1982 Tax Ct. Memo LEXIS 366; 44 T.C.M. (CCH) 385; T.C.M. (RIA) 82381;
July 7, 1982.
During the years 1957 to 1974, petitioner acquired interests in a number of business enterprises. These interests generally were acquired by petitioner with a view to increasing their value through his personal efforts and through the infusion of capital. In 1970 petitioner incorporated General Illumination as sole shareholder. Thereafter, he executed…
2Cases cited26 opinions
- Whipple v. CommissionerSupreme Court of the United States · 1963
- Putnam v. CommissionerSupreme Court of the United States · 1956
- Benjamin D. And Madeline Prentice Gilbert v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Estate of Horvath v. CommissionerUnited States Tax Court · 1973
- Markwardt v. CommissionerUnited States Tax Court · 1975
21 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Michael Friedman v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 2000
- Farrar v. CommissionerUnited States Tax Court · 1988
- Sigmon v. CommissionerUnited States Tax Court · 1988