Legal Opinion
California Federal Life Insurance Company v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided June 25, 1982No. 81-7208PublishedCited by 10 opinions
1Opinion of the Court
CANBY, Circuit Judge:
California Federal Life Insurance Co. appeals from a decision of the Tax Court determining the income tax ramifications of the exchange of Swiss francs for U. S. Double Eagle gold coins. 76 T.C. 107. On March 31, 1975, California Federal exchanged 110,079.9 Swiss francs for 175 United States Double Eagle $20 gold coins. The aggregate fair market value of the gold coins received was $43,426.52 (U.S.) 1 , each coin being worth from $275 to $18,-000. 2 .California Federal, however, accorded the gold coins only their face value of $3,500 and consequently claimed a substantial…
2Cases cited9 opinions
- Koch v. CommissionerUnited States Tax Court · 1978
- Commissioner of Internal Revenue v. CrichtonCourt of Appeals for the Fifth Circuit · 1941
- Walter W. Cruttenden and Fay T. Cruttenden v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1981
- Estate of Rollin E. Meyer, Sr., Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1974
- Estate of Meyer v. CommissionerUnited States Tax Court · 1972
4 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Joseph R. Bolker v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1985
- Ty, Inc. v. Gma Accessories, Inc. And Paul HarrisCourt of Appeals for the Seventh Circuit · 1997
- Vukasovich, Inc. v. Commissioner of Internal Revenue, Vukasovich, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1986
- Norman J. And Beverly G. Magneson v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1985
- United States v. Robert KahreCourt of Appeals for the Ninth Circuit · 2013
5 more not listed; retrieve them via the Exa API.