Collins v. Commissioner
United States Tax Court
Petitioners entered into an agreement to sell fill dirt from their land. The agreement set forth the areas from which the dirt was to be removed, estimated the amount of dirt in place in these areas, and imposed upon the buyer of the dirt an obligation to remove and pay for all of the dirt in place situated in these areas. Held, petitioners' profit from the sale of fill dirt is taxable as long-term capital gain.
1Opinion of the Court
IRWin, Judge:
Respondent determined tlie following deficiencies in petitioners’ income tax for tlie calendar years 1964, 1965, and 1966:
Tear Deficiency
1964 _$1,893.44
1965 _ 3,582.83
1966 _ 2,174.41
Tlie three deficiencies arise out of a single transaction, petitioners’ sale of fill dirt from their land in 1964. The sole issue for determination is whether petitioners were entitled to report the gain from this sale as long-term capital gain by virtue of section 1231 of the Internal Revenue Code of 1954.1
findings of fact
Some of the facts have been stipulated by the parties and are incorporated…
2Cases cited14 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Commissioner v. Southwest Exploration Co.Supreme Court of the United States · 1956
- Crowell Land and Mineral Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Arthur S. Barker and Alberta C. Barker v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Dann v. CommissionerUnited States Tax Court · 1958
9 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Mathews v. CommissionerUnited States Tax Court · 1973
- Pleasanton Gravel Co. v. CommissionerUnited States Tax Court · 1975
- Lesher v. CommissionerUnited States Tax Court · 1979
- Briscoe v. United StatesUnited States Court of Claims · 1976
- Estate of Marian H. Walker, Deceased v. Commissioner of Internal Revenue (Three Cases)Court of Appeals for the Third Circuit · 1972
7 more not listed; retrieve them via the Exa API.