First Bond & Mortg. Co. v. Commissioner
United States Board of Tax Appeals
Florida real property taxes which accrued and became liens against the properties assessed prior to their purchase by the petitioner, constitute a part of the cost of the properties, and no portion thereof is deductible in the year of acquisition as a tax of the petitioner.
1Opinion of the Court
OPINION.
Artjndell :
The deficiency for redetermination in this proceeding relates to income tax in the amount of $755.78 for the fiscal year ended June 30, 1929. The single issue is whether all of the state *431taxes paid by the petitioner on real estate properties acquired in 1928 and in 1929 prior to June 30 through foreclosure proceedings are a part of the cost of the properties, or only so much thereof as applies to the period of the calendar year prior to acquisition.
From the stipulation of facts, which is incorporated herein by reference as our findings of fact, it appears that the…
2Cases cited3 opinions
- Bloxham v. Consumers' Electric Light & Street RailroadSupreme Court of Florida · 1895
- Florida East Coast Fruit Land Co. v. MitchellSupreme Court of Florida · 1920
- Huckleby v. StateSupreme Court of Florida · 1909
3Cited by10 opinions
- Merchants Bank Bldg. Co. v. HelveringCourt of Appeals for the Eighth Circuit · 1936
- Missouri State Life Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Texas Coca-Cola Bottling Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Parrott Estate Co. v. McLaughlinCourt of Appeals for the Ninth Circuit · 1937
- Chamberlain v. CommissionerUnited States Board of Tax Appeals · 1941
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