Bliss v. Commissioner
United States Tax Court
A storm damaged property in which petitioner had a legal life estate. The cost of removing the debris was $ 1,341.56, and the remaining damage to the property was $ 30,000. Held, the Commissioner erred in failing to allow petitioner to deduct any portion of the $ 30,000. Held, further, petitioner is not entitled to deduct the full amount thereof; she is entitled to deduct a portion thereof allocable to her life estate.
1Opinion of the Court
Katharine B. Bliss, Petitioner, v. Commissioner of Internal Revenue, Respondent
Bliss v. Commissioner
Docket No. 56458
United States Tax Court
27 T.C. 770; 1957 U.S. Tax Ct. LEXIS 265;
February 13, 1957, Filed
Decision will be entered under Rule 50.
A storm damaged property in which petitioner had a legal life estate. The cost of removing the debris was $ 1,341.56, and the remaining damage to the property was $ 30,000. Held, the Commissioner erred in failing to allow petitioner to deduct any portion of the $ 30,000. Held, further, petitioner is not entitled to deduct the full amount thereof; she is…
2Cases cited3 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Helvering v. OwensSupreme Court of the United States · 1939
- Bliss v. CommissionerUnited States Tax Court · 1957