Heyman v. Commissioner
United States Tax Court
1. Deduction -- Loss -- Demolition of Buildings. -- The loss from the demolition of buildings is the unexhausted basis of the buildings. 2. Deduction -- Nonbusiness Expenses. -- Expenses of tax controversies held deductible under section 23 (a) (2), following Herbert Marshall, 5 T. C. 1032.
1Opinion of the Court
OPINION.
Mubdock, Judge:
The petitioners contend that the buildings demolished to save taxes had a value of $17,500 at the date they were destroyed. They argue that they are entitled to deduct that amount as a loss. They do not cite any provisions of the statute in support of this contention, but rely heavily upon Union Bed & Spring Co. v. Commissioner, 89 Fed. (2d) 383, reversing 9 B. T. A. 352. The Circuit Court in that case allowed the taxpayer to deduct an amount equivalent to the value in 1920 of the property destroyed, less depreciation and salvage, and said that would be a “proper method…
2Cases cited2 opinions
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- Cammack v. CommissionerUnited States Tax Court · 1945
3Cited by21 opinions
- Standard Linen Service, Inc. v. CommissionerUnited States Tax Court · 1959
- Wiesler v. CommissionerUnited States Tax Court · 1946
- Loew v. CommissionerUnited States Tax Court · 1946
- Gilman v. CommissionerUnited States Tax Court · 1979
- Nash v. CommissionerUnited States Tax Court · 1973
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