Ribas v. Commissioner
United States Tax Court
Petitioners became resident aliens on Dec. 31, 1961, on which date they left Cuba and entered the United States as parolees. Cuban law provided that, unless they returned to Cuba within 29 days, they would be considered to have permanently abandoned Cuba and their property considered nationalized.
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Petitioners became resident aliens on Dec. 31, 1961, on which date they left Cuba and entered the United States as parolees. Cuban law provided that, unless they returned to Cuba within 29 days, they would be considered to have permanently abandoned Cuba and their property considered nationalized. Held, petitioners did not constructively abandon certain business properties prior to their entry into the United States and are entitled to a loss deduction under sec. 165, I.R.C. 1954.
1Opinion of the Court
OPINION
This case presents the question whether petitioners are entitled to a loss deduction, pursuant to section 165,2 with respect to Oayetano’s business properties. They left Cuba and became resident aliens of the United States on December 31,1961. If the losses were sustained subsequent to the time they became such resident aliens, respondent concedes that petitioners are entitled to a deduction. Contrariwise, petitioners concede that they are not entitled to a deduction if the losses were incurred prior to that time. Thus, the sole issue is when were the losses incurred.
Petitioners…
2Cases cited10 opinions
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Robertson v. United StatesSupreme Court of the United States · 1952
- Rozenfeld v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1950
- Houdry v. CommissionerUnited States Tax Court · 1946
- Thomas H. Poppell and Mrs. Nell D. Poppell, Plaintiffs-Appellees-Cross-Appellants v. United States of America, Defendant-Appellant-CrossCourt of Appeals for the Fifth Circuit · 1969
5 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Valdes v. CommissionerUnited States Tax Court · 1973
- Whyte v. CommissionerUnited States Tax Court · 1986
- Bibiloni v. CommissionerUnited States Tax Court · 1973
- Pereira v. CommissionerUnited States Tax Court · 1975
- Bello v. CommissionerUnited States Tax Court · 1974
9 more not listed; retrieve them via the Exa API.