Crabtree v. Commissioner
United States Tax Court
In 1947, 1948, 1949, and the fiscal year ending March 31, 1950, petitioners realized gains from the sale of certain units of a defense-housing project and unimproved lots. 1. Held, that all of the houses and one of the unimproved lots were held primarily for investment and were entitled to capital-gains treatment under section 117 of the Internal Revenue Code. 2. Held, further, that the remaining unimproved lots were held primarily for sale to customers in the ordinary…
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In 1947, 1948, 1949, and the fiscal year ending March 31, 1950, petitioners realized gains from the sale of certain units of a defense-housing project and unimproved lots. 1. Held, that all of the houses and one of the unimproved lots were held primarily for investment and were entitled to capital-gains treatment under section 117 of the Internal Revenue Code. 2. Held, further, that the remaining unimproved lots were held primarily for sale to customers in the ordinary course of trade or business and were not entitled to such capital-gains treatment.
1Opinion of the Court
OPINION.
Rice, Judge:
In order for the petitioners to overcome the determination of the respondent as set forth in the deficiency notices, it is incumbent upon them to sustain the burden of proving that the houses and the unimproved real property involved were not held primarily for sale to customers in the ordinary course of trade or business. Greene v. Commissioner, 141 F. 2d 645 (C. A. 5, 1944), certiorari denied 323 U. S. 717; Commissioner v. Boeing, 106 F. 2d 305 (C. A. 9, 1939), certiorari denied 308 U. S. 619. In similar cases involving a determination of whether gain from the sale of…
2Cases cited11 opinions
- Rollingwood Corp. v. Commissioner of Internal Revenue. Bohannon v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1951
- Commissioner of Internal Revenue v. BoeingCourt of Appeals for the Ninth Circuit · 1939
- King v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1951
- Victory Housing No. 2, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1953
- Greene v. CommissionerCourt of Appeals for the Fifth Circuit · 1944
6 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Major Realty Corp. v. CommissionerUnited States Tax Court · 1981
- Crabtree v. CommissionerUnited States Tax Court · 1953
- Engle v. CommissionerUnited States Tax Court · 1954
- Jarret v. CommissionerUnited States Tax Court · 1993
- Williford v. CommissionerUnited States Tax Court · 1992