Legal Opinion
Adams v. United States
District Court, E.D. Virginia
Decided September 13, 1978No. 76-156-NN, 76-157-NNPublishedCited by 11 opinions
1Opinion of the Court
OPINION AND ORDER
CLARKE, District Judge.
This appeal challenges a decision of the Bankruptcy Judge that the Internal Revenue Service has a valid claim for income taxes against appellants Calvin and Mildred Breit for the year 1973. Specifically, appellants contend that they were entitled to deduct $550,000 in loans from the Virginia National Bank to Thomas Circle Inn, Inc., as a net operating loss on their 1973 tax return because the loans were in reality investments by appellants in that corporation. The Bankruptcy Judge, however, found as a fact that the loan from the bank was to the…
2Cases cited12 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Putnam v. CommissionerSupreme Court of the United States · 1956
- Morris G. Underwood and Jackie Underwood, Individuals v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1976
- Santa Anita Consol., Inc. v. CommissionerUnited States Tax Court · 1968
- American Processing and Sales Company v. The United StatesUnited States Court of Claims · 1967
7 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- In Re Danny L. Hart and Joanne E. Hart, Debtors. Eastland Mortgage Co. v. Danny L. Hart and Joanne E. HartCourt of Appeals for the Tenth Circuit · 1991
- Estate of Leavitt v. CommissionerUnited States Tax Court · 1988
- Edward M. Selfe and Jane B. Selfe v. United StatesCourt of Appeals for the Eleventh Circuit · 1985
- Estate of Leavitt v. CommissionerCourt of Appeals for the Fourth Circuit · 1989
- Bolding v. CommissionerCourt of Appeals for the Fifth Circuit · 1997
6 more not listed; retrieve them via the Exa API.