Legal Opinion
Walter Kirschenmann v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided November 12, 1973No. 72-1730PublishedCited by 9 opinions
1Opinion of the Court
OPINION
EUGENE A. WRIGHT, Circuit Judge:
In this case we must interpret Treasury Regulation § 1.453-4(c) (1958) to determine whether taxpayers may report their gain from the sale of a farm using the installment sale method of Int.Rev. Code § 453. The decision turns on whether the taxpayers’ selling expenses are an adjustment to their basis in the property. The Tax Court, 57 T.C. 524, held that they were not and that the sale did not qualify for § 453 installment treatment. We reverse. 1
I
Section 453 permits taxpayers to spread the gain from an installment sale of real property proportionately…
2Cases cited7 opinions
- Spreckels v. CommissionerSupreme Court of the United States · 1942
- Dwight A. Ward v. Commissioner of Internal Revenue, Hanna P. Ward v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Ward v. CommissionerUnited States Tax Court · 1953
- Edward R. Godfrey and Georgia G. Godfrey v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1964
- Giffin v. CommissionerUnited States Board of Tax Appeals · 1930
2 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Voight v. CommissionerUnited States Tax Court · 1977
- Hunt v. CommissionerUnited States Tax Court · 1983
- Bostedt v. CommissionerUnited States Tax Court · 1978
- Turner v. CommissionerUnited States Tax Court · 1974
- Bostedt v. CommissionerUnited States Tax Court · 1978
4 more not listed; retrieve them via the Exa API.