Edwards v. Commissioner
United States Tax Court
Petitioners were engaged in the business of breeding and raising mink for the purpose of selling their pelts. The business required the development of a breeding herd in order to obtain improved strains of mink. It was necessary to cull certain breeders from the herd, and to replace them, each year.
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Petitioners were engaged in the business of breeding and raising mink for the purpose of selling their pelts. The business required the development of a breeding herd in order to obtain improved strains of mink. It was necessary to cull certain breeders from the herd, and to replace them, each year. The culled breeders were maintained in separate pens, as were the other mink that were to be pelted, until about the first of December, when their fur was in prime condition, at which time they were killed and pelted. The culled pelts were disposed of in the same manner as pelts taken from mink…
1Opinion of the Court
OPINION.
TueneR, Judge:
Since the tax years in these proceedings include 1951 through 1955, the applicable sections of the Internal Revenue Code of 1939 and 1954 are 117 (j) 1 and 1231, respectively, and they are in substance the same with respect to the issue common to and presented in each proceeding. The question to be determined is whether the gain from the sale of the pelts of culled breeder mink is entitled to the capital gains treatment.
The identical question was presented in Cook v. United States, 165 F. Supp. 212. There the facts were very much like the facts presented in these…
2Cases cited7 opinions
- United States v. Bennett (Two Cases). Finch v. Arnold, Acting Collector of Internal Revenue (Two Cases). Birkbeck v. Thomas. Ritchie v. ThomasCourt of Appeals for the Fifth Circuit · 1951
- Fawn Lake Ranch Co. v. Comm'rUnited States Tax Court · 1949
- Emerson v. CommissionerUnited States Tax Court · 1949
- A. Benetti Novelty Co. v. CommissionerUnited States Tax Court · 1949
- Cook v. United StatesDistrict Court, D. Minnesota · 1958
2 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Suffolk County Patrolmen's Benevolent Asso. v. CommissionerUnited States Tax Court · 1981
- Veterans of Foreign Wars, Dep't of Michigan v. CommissionerUnited States Tax Court · 1987
- Herbert A. Nieman & Co. v. CommissionerUnited States Tax Court · 1959
- Glisson v. CommissionerUnited States Tax Court · 1981
- Cedarburg Fox Farms, Inc. v. United States of America, Cedarburg Fox Farms, Inc. v. United StatesCourt of Appeals for the Seventh Circuit · 1960
4 more not listed; retrieve them via the Exa API.