Corley v. Commissioner
United States Tax Court
Held: A Michigan land contract executed by the limited partnership in which petitioners were partners had an ascertainable for market value. Therefore, under the installment sale provisions, gain on the sale must be reported as payments are received.
1Opinion of the Court
DONALD G. CORLEY, MARY E. CORLEY, BARRY J. GLICK, DEBORAH A. GLICK, ALVIN L. GLICK, BARBARA M. GLICK, CARLTON L. GLICK, DENISE L. GLICK AND RANDAL L. GLICK, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Corley v. Commissioner
Docket No. 4108-83.
United States Tax Court
T.C. Memo 1986-17; 1986 Tax Ct. Memo LEXIS 596; 51 T.C.M. (CCH) 280; T.C.M. (RIA) 86017;
January 13, 1986.
Held: A Michigan land contract executed by the limited partnership in which petitioners were partners had an ascertainable for market value. Therefore, under the installment sale provisions, gain on the sale must…
2Cases cited7 opinions
- Wood v. CommissionerUnited States Tax Court · 1955
- Darby Investment Corporation v. Commissioner or Internal RevenueCourt of Appeals for the Sixth Circuit · 1963
- Darby Inv. Corp. v. CommissionerUnited States Tax Court · 1962
- Heller Trust v. CommissionerCourt of Appeals for the Ninth Circuit · 1967
- Patrick Guffey and Betty Guffey v. United StatesCourt of Appeals for the Ninth Circuit · 1964
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