Home Sav. & Loan Asso. v. Commissioner
United States Tax Court
Petitioner, a savings and loan association, used the reserve method of accounting for bad debts in 1975 and, under the reserve method, used the experience method of computing its bad debt deduction for 1975. Petitioner maintained as a permanent part of its books and records (1) certain tax reserve accounts which are required for the use of the reserve method, (2) a reconciliation of these tax reserve accounts with its other reserve accounts, and (3) its Federal income tax…
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Petitioner, a savings and loan association, used the reserve method of accounting for bad debts in 1975 and, under the reserve method, used the experience method of computing its bad debt deduction for 1975. Petitioner maintained as a permanent part of its books and records (1) certain tax reserve accounts which are required for the use of the reserve method, (2) a reconciliation of these tax reserve accounts with its other reserve accounts, and (3) its Federal income tax return for 1975 which explained the entries made to the tax reserve accounts. Held, petitioner complied with the…
1Opinion of the Court
Home Savings & Loan Association, Petitioner v. Commissioner of Internal Revenue, Respondent
Home Sav. & Loan Asso. v. Commissioner
Docket No. 3083-80
United States Tax Court
80 T.C. 571; 1983 U.S. Tax Ct. LEXIS 102; 80 T.C. No. 28;
March 23, 1983, Filed
Decision will be entered under Rule 155.
Petitioner, a savings and loan association, used the reserve method of accounting for bad debts in 1975 and, under the reserve method, used the experience method of computing its bad debt deduction for 1975. Petitioner maintained as a permanent part of its books and records (1) certain tax reserve accounts…
2Cases cited15 opinions
- Graff v. CommissionerUnited States Tax Court · 1980
- Alvin v. Graff v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1982
- Standard Oil Co. v. CommissionerUnited States Tax Court · 1981
- Rio Grande Bldg. & Loan Ass'n v. CommissionerUnited States Tax Court · 1961
- Sam E. Wyly v. United StatesCourt of Appeals for the Fifth Circuit · 1981
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