Dudderar v. Commissioner
United States Tax Court
Held, the payment of 73 percent of the premium on a contract of life insurance within a period of 4 years from the date on which the contract was purchased does not constitute payment of "substantially all the premiums on the contract" within the meaning of section 264(b)(1), I.R.C. 1954.
1Opinion of the Court
Scott, Judge:
Respondent determined deficiencies in petitioners’ income tax for the calendar years 1959, 1960, 1961, and 1962 in the respective amounts of $1,022.22, $1,349.58, $1,722.98, and $777.84.
The issue for decision is whether deductions claimed by petitioners for interest paid on amounts borrowed to pay premiums on a life insurance contract insuring the life of Frederick A. Dudderar are specifically disallowed 'by the provisions of section 264 of the Internal Revenue Code of 1954.1
FINDINGS OF FACT
Some of the facts have been stipulated and are found accordingly.
Frederick A. Dudderar and…
2Cases cited9 opinions
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Handy & Harman v. BurnetSupreme Court of the United States · 1931
- Ice Service Co. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1929
- Smith v. CommissionerUnited States Board of Tax Appeals · 1936
- Auclair Transportation, Inc. v. RileySupreme Court of New Hampshire · 1949
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Ellis Campbell, Jr., District Director of Internal Revenue v. Cen-Tex, Inc.Court of Appeals for the Fifth Circuit · 1967
- Alfred D. Goldman v. United StatesCourt of Appeals for the Tenth Circuit · 1968
- Cecil H. Shirar and Jessie May Shirar v. Commissioner Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1990
- Wanvig v. United StatesDistrict Court, E.D. Wisconsin · 1969
- John G. Moffatt v. Commissioner of Internal Revenue, Mary E. Moffatt v. Commissioner of Internal Revenue, John G. Moffatt and Mary E. Moffatt v. Commissioner of Internal Revenue, Frank E. Nichol v. Commissioner of Internal Revenue, Ruth H. Nichol v. Commissioner of Internal Revenue, Frank E. Nichol and Ruth H. Nichol v. Commissioner of Internal Revenue, George C. Murray and Anna Mae Murray v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1966
2 more not listed; retrieve them via the Exa API.