Legal Opinion
First National Bank in Albuquerque v. Commissioner of Internal Revenue
Court of Appeals for the First Circuit
Decided December 19, 1990No. 89-9011PublishedCited by 10 opinions
1Opinion of the Court
STEPHEN H. ANDERSON, Circuit Judge.
The First National Bank in Albuquerque (“First National” or “Bank”) appeals from a decision of the United States Tax Court holding that the Bank realized taxable income in 1980 as the result of a disposition of an installment obligation within the meaning of § 453(d) of the Internal Revenue Code of Í954 (“Code”). We affirm on the basis of §§ 453(a) and (b) of the Code because the installment obligation was paid in full, in cash, in 1980.
BACKGROUND
On July 9, 1979, First National sold its old bank building and the underlying real estate in Albuquerque, New…
2Cases cited7 opinions
- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
- Robertson v. United StatesSupreme Court of the United States · 1952
- In Re Golf Course Builders Leasing, Inc., Debtor. John B. Jarboe, Trustee v. United Bank of Denver, ColoradoCourt of Appeals for the Tenth Circuit · 1985
- Roger M. Dolese and Susan B. Dolese v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1987
- Burrell Groves, Inc. v. CommissionerUnited States Tax Court · 1954
2 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Alexander v. Internal Revenue Service of the United StatesCourt of Appeals for the First Circuit · 1995
- Samuel Anderson and Mary Anderson v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1995
- Jeppsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1997
- Twenty Mile Joint Venture, PND, Ltd. v. CommissionerCourt of Appeals for the Tenth Circuit · 1999
- Colorado National Bankshares, Inc., and Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1993
5 more not listed; retrieve them via the Exa API.