Strauss v. Commissioner
United States Board of Tax Appeals
Petitioner, having filed an original return for the taxable year 1929 and included therein the entire gain resulting from the sale of real estate, is not entitled to have her tax liability computed upon the installment sales basis as shown by an amended return subsequently filed. Having made an election, she is bound by it.
1Opinion of the Court
opinion.
Black:
The issue involved in this case is whether petitioner has the right to report on the instalhnent basis the profit derived in the taxable year on the sale of certain real estate which she had inherited from her husband. A deficiency of $463.12 for the year 1929 is involved.
*856Petitioner is an individual and resides at Lawrence, Long Island, New York. Prior to 1929 she inherited from her husband certain improved real estate which she sold in that year for the sum of $41,500. In her original income tax return for 1929 the profit on the sale of this property was computed on the basis…
2Cited by8 opinions
- Estate of Stamos v. CommissionerUnited States Tax Court · 1970
- Ireland v. CommissionerUnited States Tax Court · 1959
- Buck v. CommissionerUnited States Board of Tax Appeals · 1939
- Curtis v. CommissionerUnited States Board of Tax Appeals · 1937
- Estate of Stamos v. CommissionerUnited States Tax Court · 1970
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