Johnson v. Commissioner
United States Tax Court
Petitioner, who rented farm property which was taken in condemnation proceedings by a railroad for use as a marshalling yard, reinvested the proceeds she received in a fee interest in land subject to a long-term lease to an oil company which operated a gasoline service station on the property.
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Petitioner, who rented farm property which was taken in condemnation proceedings by a railroad for use as a marshalling yard, reinvested the proceeds she received in a fee interest in land subject to a long-term lease to an oil company which operated a gasoline service station on the property. Held, that since both the converted and replacement properties were held by petitioner for investment purposes, the replacement property was "similar or related in service or use to the property so converted," within the provisions of section 1033(a)(3)(A), I.R.C. 1954, and that the petitioner is…
1Opinion of the Court
Harvey J. Johnson and Helene C. Johnson, Petitioners, v. Commissioner of Internal Revenue, Respondent
Johnson v. Commissioner
Docket No. 3422-62
United States Tax Court
43 T.C. 736; 1965 U.S. Tax Ct. LEXIS 119;
March 9, 1965, Filed March 9, 1965, Filed
Decision will be entered under Rule 50.
Petitioner, who rented farm property which was taken in condemnation proceedings by a railroad for use as a marshalling yard, reinvested the proceeds she received in a fee interest in land subject to a long-term lease to an oil company which operated a gasoline service station on the property. Held, that since…
Also in this document: Dissent.
2Cases cited16 opinions
- Lucile McAulay Filippini, as of the Last Will and Testament of Carra McAulay Deceased v. United StatesCourt of Appeals for the Ninth Circuit · 1963
- Loco Realty Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1962
- Liant Record, Inc., William I. Alpert and Paula G. Alpert, Abraham Alpert and Sarah Alpert, Jack L. Alpert v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- Steuart Brothers, Inc., a Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1958
- Thomas McCaffrey Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1960
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