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Legal Opinion

Koufos v. Indiana Department of State Revenue

Indiana Tax Court

Decided February 14, 1995No. 45T10-9403-TA-00098PublishedCited by 6 opinions

1Opinion of the Court

FISHER, Judge.

James P. Koufos and Barbara J. Koufos (the Koufoses) appeal the final determination of the Indiana Department of State Revenue (the Department) disallowing a deduction for interest paid on a mortgage acquired to develop rental property before determining their Indiana adjusted gross income.

ISSUE

This case presents one issue: whether interest paid on a mortgage acquired to develop rental property continues to be "attributable to property held for the production of rents or royalties" under 26 U.S.C.A. § 62(a)(4) after the property is sold.

FACTS AND PROCEDURAL HISTORY

A. The…

2Cases cited5 opinions

  1. Commissioner v. SolimanSupreme Court of the United States · 1993
  2. Johnson County Farm Bureau Cooperative Ass'n v. Indiana Department of State RevenueIndiana Tax Court · 1991
  3. Harlan Sprague Dawley, Inc. v. Indiana Department of State RevenueIndiana Tax Court · 1992
  4. Knauf Fiber Glass, GmbH v. State Board of Tax CommissionersIndiana Tax Court · 1994
  5. Koshland v. CommissionerUnited States Tax Court · 1953

3Cited by6 opinions

  1. Associated Insurance Companies, Inc. v. Indiana Department of State RevenueIndiana Tax Court · 1995
  2. Uniden America Corp. v. Indiana Department of State RevenueIndiana Tax Court · 1999
  3. Farm Credit Services of Mid-America v. Department of State RevenueIndiana Tax Court · 1999
  4. Miles, Inc. v. Indiana Department of State RevenueIndiana Tax Court · 1995
  5. John and Sylvia Von Ermannsdorff v. Indiana Department of State RevenueIndiana Tax Court · 2016

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