Legal Opinion
James Richard Huntsman and Zenith Annette Huntsman v. Commissioner of Internal Revenue
Court of Appeals for the Eighth Circuit
Decided June 14, 1990No. 89-1672PublishedCited by 20 opinions
1Opinion of the Court
LAY, Chief Judge.
James and Zenith Huntsman appeal the judgment of the United States Tax Court disallowing a prepaid interest deduction taken on their 1983 federal income tax return under I.R.C. § 461(g)(2) (1983), for points they paid in obtaining a permanent mortgage on their principal residence. The tax court considered the indebtedness incurred was in the form of refinancing since the initial purchase money was obtained through a short-term three-year mortgage with a balloon payment at the end. The judgment of the tax court is reversed.
BACKGROUND
In January 1981, the Huntsmans financed the…
2Cases cited11 opinions
- Blue Chip Stamps v. Manor Drug StoresSupreme Court of the United States · 1975
- Superintendent of Insurance of New York v. Bankers Life & Casualty Co.Supreme Court of the United States · 1971
- Rubin v. United StatesSupreme Court of the United States · 1981
- United States v. JamesSupreme Court of the United States · 1986
- Snow v. CommissionerSupreme Court of the United States · 1974
6 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Fort Howard Corp. v. CommissionerUnited States Tax Court · 1994
- Conopco, Inc. v. United StatesCourt of Appeals for the Third Circuit · 2009
- Biehl v. Comm'rUnited States Tax Court · 2002
- Brown Group v. CommissionerUnited States Tax Court · 1995
- Ralston Purina Co. v. Comm'rUnited States Tax Court · 2008
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