McDermott v. Commissioner
United States Tax Court
1. Petitioner received the Ross Essay Prize of $ 3,000 in 1939. The prize represented income from a trust created under the terms of a will and administered by the American Bar Association. Held, that petitioner is liable for income tax on the $ 3,000 so received. 2. Held, that petitioner may not deduct the amount of North Carolina sales tax passed on to and paid by him in 1939.
1Opinion of the Court
OPINION.
Hill, Judge'.
This proceeding involves a determination of a deficiency of $261.89 in income tax for 1939. Petitioner is an individual residing in Durham, North Carolina. Two issues are presented, namely, (1) whether a prize of $3,000 received by petitioner constitutes taxable income, and (2) whether petitioner is entitled to deduct North Carolina sales tax added to the price of merchandise purchased by him. The tax return for the period in question was filed with the collector for the district of North Carolina at Greensboro. The facts are stipulated and are found accordingly.
In 1928…
2Cases cited5 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Irwin v. GavitSupreme Court of the United States · 1925
- Federal Land Bank of St. Paul v. Bismarck Lumber Co.Supreme Court of the United States · 1941
- Leonard v. MaxwellSupreme Court of North Carolina · 1939
3Cited by8 opinions
- Stout v. CommissionerUnited States Tax Court · 1959
- Ti Li Loo v. CommissionerUnited States Tax Court · 1954
- Childers Distributing Co. v. CommissionerUnited States Tax Court · 1983
- McDermott v. CommissionerUnited States Tax Court · 1944
- Stout v. CommissionerUnited States Tax Court · 1959
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