Legal Opinion
Robert L. Whitmire v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided May 28, 1999No. 98-70495PublishedCited by 8 opinions
1Opinion of the Court
WARDLAW, Circuit Judge:
We are asked to determine the extent of loss protection a taxpayer may build into a business transaction so as to eliminate any realistic possibility of actual loss from an unprofitable deal, yet remain “at risk” and entitled to a deduction for invested amounts under Internal Revenue Code 26 U.S.C. § 465. This issue arose in 1980, when taxpayer Robert L. Whitmire (“Whitmire”) claimed an “at risk” deduction under section 465 for his investment in a New York limited partnership, Petunia, one of many companies involved in a complex computer “sale-leaseback” transaction.…
2Cases cited9 opinions
- Gefen v. CommissionerUnited States Tax Court · 1986
- Seymour Sacks Star Sacks v. Commissioner, Internal Revenue Service, Michael R. Geyser Joyce Geyser v. Commissioner, Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1995
- American Principals Leasing Corp. v. United StatesCourt of Appeals for the Ninth Circuit · 1990
- Marcus W. Melvin and Marilyn E. Melvin v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1990
- Moser v. CommissionerCourt of Appeals for the Eighth Circuit · 1990
4 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Dudley B. Merkel Ladonna K. Merkel David A. Hepburn, and Nancy J. Hepburn v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1999
- Isaac Baranowicz v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 2005
- Bennett v. YoshinaDistrict Court, D. Hawaii · 2000
- United States v. TuffDistrict Court, W.D. Washington · 2005
- Boyd Gaming Corporation, F.K.A. The Boyd Group and Subsidiaries v. Commissioner of Internal Revenue, California Hotel & Casino and Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1999
3 more not listed; retrieve them via the Exa API.