Allen v. Commissioner
United States Tax Court
Taxpayer, in 1965, made a gift of a 5-year rent-free lease of property to a charity. In 1966 and 1967, taxpayer took charitable deductions based on the annual fair rental value of the property. Held: Taxpayer made a single, completed gift in 1965 and was entitled to a charitable deduction in that year equal to the fair market value of the interest conveyed. Taxpayer's annualization of the charitable contribution deduction was not proper in this case.
1Opinion of the Court
OPINION
IRWIN, Judge:
Respondent has determined deficiencies in petitioners’ income tax for the taxable years 1966 and 1967 in the amounts of $3,303.73 and $1,440, respectively. The only issue presented is whether petitioners, having made a gift of a 5-year rent-free lease to a charitable organization in 1965, were correct in taking charitable contribution deductions equal to the annual fair rental value of the property in each of the years of the lease rather than an aggregate amount in 1965. This case arose prior to the Tax Reform Act of 1969 which amended the section in question here,…
2Cases cited1 opinion
- Passailaigue v. United StatesDistrict Court, M.D. Georgia · 1963
3Cited by13 opinions
- Thriftimart, Inc. v. CommissionerUnited States Tax Court · 1973
- Esther C. Dickman, Estate of Paul B. Dickman, Deceased, G. Wendell Smith, Personal Representative v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1983
- McNamara v. CommissionerUnited States Tax Court · 1973
- Allen v. CommissionerUnited States Tax Court · 1971
- Crown v. CommissionerUnited States Tax Court · 1977
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