Huebschman v. Commissioner
United States Tax Court
Petitioner bought and sold substantial amounts of stocks and bonds during the years in issue. Held, petitioner was not a dealer in securities; therefore, stocks and bonds are capital assets in the hands of the petitioner within the meaning of sec. 1221, I.R.C. of 1954.
1Opinion of the Court
EUGENE C. HUEBSCHMAN AND EDNA M. HUEBSCHMAN, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Huebschman v. Commissioner
Docket No. 283-79.
United States Tax Court
T.C. Memo 1980-537; 1980 Tax Ct. Memo LEXIS 47; 41 T.C.M. (CCH) 474; T.C.M. (RIA) 80537;
December 4, 1980
Petitioner bought and sold substantial amounts of stocks and bonds during the years in issue. Held, petitioner was not a dealer in securities; therefore, stocks and bonds are capital assets in the hands of the petitioner within the meaning of sec. 1221, I.R.C. of 1954.
James F. Conley, for the petitioners.
Vallie C. Brooks,…
2Cases cited7 opinions
- Key Buick Co. v. CommissionerUnited States Tax Court · 1977
- Stern Bros. & Co. v. CommissionerUnited States Tax Court · 1951
- Key Buick Company v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1980
- Kemon v. CommissionerUnited States Tax Court · 1951
- Elsie W. Faroll, of the Estate of Barnett Faroll, Deceased v. John T. Jarecki, Collector of Internal RevenueCourt of Appeals for the Seventh Circuit · 1956
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