Leader Federal Sav. & Loan Ass'n v. Commissioner
United States Tax Court
P, a Tennessee savings and loan association, was a member and shareholder of the Cincinnati District Bank, one of 12 district banks established by the Federal Home Loan Bank Act of 1932. During 1980 and 1981, P entered into mortgage swaps involving both 90 percent participation interests and whole mortgage loans.
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P, a Tennessee savings and loan association, was a member and shareholder of the Cincinnati District Bank, one of 12 district banks established by the Federal Home Loan Bank Act of 1932. During 1980 and 1981, P entered into mortgage swaps involving both 90 percent participation interests and whole mortgage loans. P also received common stock dividends from the Cincinnati District Bank in 1978, 1979, 1980 and 1981. In 1981, the Federal Home Loan Bank Board approved and the Cincinnati District Bank granted P's request to redeem a portion of P's stock. In 1980 and 1981, P received premature…
1Opinion of the Court
LEADER FEDERAL SAVINGS AND LOAN ASSOCIATION OF MEMPHIS AND SUBSIDIARIES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Leader Federal Sav. & Loan Ass'n v. Commissioner
Docket Nos. 44110-86, 44490-86
United States Tax Court
T.C. Memo 1989-321; 1989 Tax Ct. Memo LEXIS 321; 57 T.C.M. (CCH) 846; T.C.M. (RIA) 89321;
July 3, 1989
P, a Tennessee savings and loan association, was a member and shareholder of the Cincinnati District Bank, one of 12 district banks established by the Federal Home Loan Bank Act of 1932. During 1980 and 1981, P entered into mortgage swaps involving both 90 percent…
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- Colonial Sav. Asso. v. CommissionerUnited States Tax Court · 1985
- Federal Nat'l Mortg. Asso. v. CommissionerUnited States Tax Court · 1988
- Frontier Sav. Asso. v. CommissionerUnited States Tax Court · 1986
- Hanlin v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1939
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3Cited by3 opinions
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- Cottage Savings Association v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1990
- Leader Federal Sav. & Loan Ass'n v. CommissionerUnited States Tax Court · 1991