Galt v. Commissioner
United States Board of Tax Appeals
A taxpayer on the cash receipts and disbursement basis deposited with a brokerage firm the estimated amount of his 1929 real property taxes with instructions to pay his taxes "as soon as the bills can be obtained." The brokerage firm paid the taxes in 1931. Held, that taxpayer is not entitled to a deduction on his 1930 return for taxes so paid in 1931.
1Opinion of the Court
ARTHUR T. GALT, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Galt v. Commissioner
Docket No. 71103.
United States Board of Tax Appeals
31 B.T.A. 930; 1934 BTA LEXIS 1012;
December 21, 1934, Promulgated
A taxpayer on the cash receipts and disbursement basis deposited with a brokerage firm the estimated amount of his 1929 real property taxes with instructions to pay his taxes "as soon as the bills can be obtained." The brokerage firm paid the taxes in 1931. Held, that taxpayer is not entitled to a deduction on his 1930 return for taxes so paid in 1931.
John M. Kelley, Esq., for the…
2Cases cited1 opinion
- Galt v. CommissionerUnited States Board of Tax Appeals · 1934