Eller v. Commissioner
United States Tax Court
One of the corporate petitioners derived income from the operation of a commercial shopping center and a mobile home park. Held, this income constitutes personal holding company income (rents) within the meaning of sec. 543(a)(2), I.R.C. 1954. Webster Corp. v. Commissioner, 25 T.C. 55 (1955), affd. per curiam 240 F.2d 164 (2d Cir. 1957), distinguished.
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One of the corporate petitioners derived income from the operation of a commercial shopping center and a mobile home park. Held, this income constitutes personal holding company income (rents) within the meaning of sec. 543(a)(2), I.R.C. 1954. Webster Corp. v. Commissioner, 25 T.C. 55 (1955), affd. per curiam 240 F.2d 164 (2d Cir. 1957), distinguished. A related partnership sold real estate situated on which was a single-family dwelling which the individual petitioners continued to occupy rent free for a 2-year period following the sale. Held, petitioners' possessory interest was based on a…
1Opinion of the Court
Dawson, Judge:
Respondent determined the following deficiencies in petitioners’ Federal income taxes:
Petitioner Docket No. T.Y.E Deficiency
Walt E. Eller and 3249-80 12/31/72 $1,265
Dorothy M. Eller 12/31/73 20,183
Walt Eller Trailer Sales of Modesto, Inc. 3250-80 8/ 1/74 5,028
Walt Eller Trailer Sales of Merced, Inc. 3250-80 8,454 7/31/74
These cases have been consolidated for purposes of trial, briefing, and opinion. After concessions by the parties, the issues remaining for decision are as follows:(1) Whether income derived by petitioner Walt Eller Trailer Sales of Merced, Inc., from the…
2Cases cited13 opinions
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- Samuel Pollack and Annie Pollack v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1968
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