Frueauff v. Commissioner
United States Board of Tax Appeals
The petitioner owned all of the capital stock of a corporation which owned and operated an apartment house. He was vice president of the corporation. He occupied one of the apartments, rent free, in 1929, the fair rental value of which was $10,457.98. Held, that the fair rental value of the apartment constituted taxable income of the petitioner for 1929.
1Opinion of the Court
OPINION.
Smith :
This is a proceeding for the redetermination of a deficiency in income tax for 1929 of $2,509.92. The question in issue is whether the petitioner is liable to income tax in respect of the rental value of an apartment occupied by him rent free.
From the organization of Twenty-Nine Washington Square, Inc., through the taxable year 1929 the petitioner was the owner of all of its capital stock. The corporation owned and operated an apartment house in New York City. The president of the corporation was J. Irving Walsh. He had entire charge of renting and operating the building. The…
2Cited by25 opinions
- Challenge Mfg. Co. v. CommissionerUnited States Tax Court · 1962
- Dean v. CommissionerUnited States Tax Court · 1961
- Melvin v. CommissionerUnited States Tax Court · 1987
- Greenspun v. CommissionerUnited States Tax Court · 1979
- Hornung v. CommissionerUnited States Tax Court · 1967
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