Bauschard v. Commissioner
United States Tax Court
Petitioner, a Catholic priest, was pastor of a parish located in a residential community. The residents of that community learned of a plan to build a low-cost housing development on a tract of unimproved land some three-quarters of a mile from the site of petitioner's parish buildings. A civic committee was organized to devise a means of preventing its erection.
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Petitioner, a Catholic priest, was pastor of a parish located in a residential community. The residents of that community learned of a plan to build a low-cost housing development on a tract of unimproved land some three-quarters of a mile from the site of petitioner's parish buildings. A civic committee was organized to devise a means of preventing its erection. Thereafter, petitioner and Edward Tonti, a real estate developer and close friend, discussed acquisition of the property. In October 1951, petitioner and Harry Haney purchased the land for $ 77,000, of which petitioner furnished…
1Opinion of the Court
Tietjens, Judge:
This proceeding involves the following deficiencies in income tax and additions thereto:
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The issues are: (1) Whether the gains realized on the sale of certain real estate were taxable as long-term capital gains or as ordinary income; if taxable as ordinary income (2) whether petitioner was liable for self-employment taxes during the years in issue; and (3) whether the additions to tax under either section 294(d) (1) (A) or 294(d) (1) (B) for 1953, and under section 294(d) (2) for 1952 and 1954 were properly determined.
BINDINGS OB BACT.
The stipulated facts are so…
2Cases cited8 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- MAULDIN v. COMMISSIONER OF INTERNAL REVENUE (Two Cases)Court of Appeals for the Tenth Circuit · 1952
- Walter H. Kaltreider and Irene C. Kaltreider v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Mauldin v. CommissionerUnited States Tax Court · 1951
- Kaltreider v. CommissionerUnited States Tax Court · 1957
3 more not listed; retrieve them via the Exa API.
3Cited by83 opinions
- Eline Realty Co. v. CommissionerUnited States Tax Court · 1960
- Raymond Bauschard v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1960
- Hoffman v. Comm'rUnited States Tax Court · 2002
- Estate of Finder v. CommissionerUnited States Tax Court · 1961
- Brown v. CommissionerUnited States Tax Court · 1961
78 more not listed; retrieve them via the Exa API.