Fieland v. Commissioner
United States Tax Court
Held, component depreciation not available in the circumstances of this case in respect of existing improvements to used real property acquired for a lump sum. Such improvements to the building made by the taxpayer's predecessor must be depreciated by the taxpayer-purchaser together with the building itself over the remaining useful life of the building. Held, further, allocations of taxpayer's purchase price between land and building made in the deficiency notice sustained.
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Held, component depreciation not available in the circumstances of this case in respect of existing improvements to used real property acquired for a lump sum. Such improvements to the building made by the taxpayer's predecessor must be depreciated by the taxpayer-purchaser together with the building itself over the remaining useful life of the building. Held, further, allocations of taxpayer's purchase price between land and building made in the deficiency notice sustained. Held, further, useful life of building determined. Held, further, so-called premium or excess rent paid by lessee over…
1Opinion of the Court
Raum, Judge:
The Commissioner determined deficiencies in income tax against petitioners for the years 1969-71, as follows:
Year Deficiency
1969. $37,546.60
1970. 37,260.93
1971. 37,290.70
The principal issue relates to the amount of depreciation allowable in respect of a building owned by Mr. Fieland.
FINDINGS OF FACT
Some of the facts have been stipulated, and, as stipulated, are incorporated herein by reference.
Petitioners, husband and wife, filed joint returns for the years in issue. The husband, Mr. Fieland, will sometimes hereinafter be referred to as petitioner. At the time the petition was…
2Cases cited29 opinions
- Helvering v. BruunSupreme Court of the United States · 1940
- M. E. Blatt Co. v. United StatesSupreme Court of the United States · 1938
- Shainberg v. CommissionerUnited States Tax Court · 1959
- Commissioner of Internal Revenue v. Moore. Moore v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1953
- Friend v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1941
24 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Grinalds v. CommissionerUnited States Tax Court · 1993
- Conroe Office Bldg., Ltd. v. CommissionerUnited States Tax Court · 1991
- Continental Grain Co. v. CommissionerUnited States Tax Court · 1988
- Peterson v. CommissionerUnited States Tax Court · 1987
- Fieland v. CommissionerUnited States Tax Court · 1980
2 more not listed; retrieve them via the Exa API.