Legal Opinion
Bisbee-Baldwin Corporation v. Laurie E. Tomlinson, District Director of Internal Revenue for the District of Florida
Court of Appeals for the Fifth Circuit
Decided June 25, 1963No. 19567PublishedCited by 53 opinions
1Opinion of the Court
*930WISDOM, Circuit Judge.
The question for decision is whether payments the taxpayer received for the termination of mortgage servicing contracts are taxable as ordinary income or as capital gains.1
This Court has recently decided three other cases concerning the tax effects of the termination of similar contracts: Nelson Weaver Realty Co. v. Commissioner, 5 Cir.1962, 307 F.2d 897; United States v. Eidson, 5 Cir.1962, 310 F.2d 111; Commissioner v. Maurice L. Kil-lian, 5 Cir.1963, 314 F.2d 852. In Weaver, Judge Cameron, for the majority of the Court, held: “It cannot be doubted that the sum total…
2Cases cited28 opinions
- Helvering v. TaylorSupreme Court of the United States · 1935
- Burnet v. HarmelSupreme Court of the United States · 1932
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Hort v. CommissionerSupreme Court of the United States · 1941
23 more not listed; retrieve them via the Exa API.
3Cited by53 opinions
- Fritz Thompson and Dora M. Thompson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
- United States v. Dresser Industries, Inc.Court of Appeals for the Fifth Circuit · 1963
- United States v. William D. Frazell and Martha T. FrazellCourt of Appeals for the Fifth Circuit · 1964
- Kingsbury v. CommissionerUnited States Tax Court · 1976
- United States v. R. T. And Gertrude WoolseyCourt of Appeals for the Fifth Circuit · 1964
48 more not listed; retrieve them via the Exa API.