Asjes v. Commissioner
United States Tax Court
Held: Trees and shrubs growing in a nursery are part of the land and are not to be classified as a nonproperty interest on condemnation to permit an allocation of the lump-sum award. Petitioners' condemned property was replaced with property of a like kind, and gain is therefore not recognized.
1Opinion of the Court
Forrester, Judge:
Respondent has determined deficiencies in petitioners’ Federal income tax for the taxable year 1973 as follows:
Petitioner Deficiency
Evert Asjes, Jr., and Kathryn Asjes.$68,707.23
Evert Asjes III and Anne Asjes. 13,906.15
Hugh D. Asjes and Judith M. Asjes. 10,752.60
Concessions having been made, the issues which remain for decision are:(1) Whether, for purposes of section 1033,1 a lump-sum condemnation award must be allocated to various types of property condemned;(2) Whether, if allocation of a lump-sum condemnation award is required, petitioners’ wholly owned corporation…
2Cases cited14 opinions
- Koch v. CommissionerUnited States Tax Court · 1978
- Stokes v. CommissionerUnited States Tax Court · 1954
- Loco Realty Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1962
- Cooley v. Kansas City, Pittsburg & Gulf RailroadSupreme Court of Missouri · 1899
- Lapham v. United StatesCourt of Appeals for the Second Circuit · 1950
9 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Tiefenbrunn v. CommissionerUnited States Tax Court · 1980
- Willamette Indus. v. Comm'rUnited States Tax Court · 2002
- Asjes v. CommissionerUnited States Tax Court · 1980
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
3 more not listed; retrieve them via the Exa API.