Glisson v. Commissioner
United States Tax Court
In 1974, petitioner W. F. Glisson sold a business which he had operated as a sole proprietorship. The sale included assets that he had used in another business which he discontinued in 1961. Held, no part of the sale price of those assets is allocable to goodwill. Held further, petitioners were entitled to report any gain from the sale of those assets under sec. 453(b), I.R.C. 1954.
1Opinion of the Court
W. F. GLISSON and FRANCES M. GLISSON, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Glisson v. Commissioner
Docket No. 7556-77.
United States Tax Court
T.C. Memo 1981-379; 1981 Tax Ct. Memo LEXIS 365; 42 T.C.M. (CCH) 470; T.C.M. (RIA) 81379;
July 27, 1981
In 1974, petitioner W. F. Glisson sold a business which he had operated as a sole proprietorship. The sale included assets that he had used in another business which he discontinued in 1961. Held, no part of the sale price of those assets is allocable to goodwill. Held further, petitioners were entitled to report any gain from the…
2Cases cited26 opinions
- Commissioner v. DanielsonCourt of Appeals for the Third Circuit · 1967
- Danielson v. CommissionerUnited States Tax Court · 1965
- Grace Bros. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1949
- Louis Greenspon v. Commissioner of Internal Revenue, (Three Cases). Anna Greenspon v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1956
- Watson v. CommissionerSupreme Court of the United States · 1953
21 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
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- Andrew Crispo Gallery v. CommissionerUnited States Tax Court · 1992
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