Whitfield v. Commissioner
United States Tax Court
Primarily in order to avoid expense and delay in administration, the decedent conveyed real estate to a corporation formed, of which he was president and owner of all stock except qualifying shares. The properties which were the only corporate assets were rental properties subject to yearly leases producing monthly rentals.
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Primarily in order to avoid expense and delay in administration, the decedent conveyed real estate to a corporation formed, of which he was president and owner of all stock except qualifying shares. The properties which were the only corporate assets were rental properties subject to yearly leases producing monthly rentals. Income tax returns were filed for several years by the corporation showing the corporate business to be real estate operating and leasing real estate, and showing various activities and deducting expenses of corporate operation. Leases were renewed. Books were kept for the…
1Opinion of the Court
OPINION.
Disnev, Judge-.
The sole question left for our consideration is whether the gain realized on the sale of the Pensacola property is taxable to the Realty Co., as determined by the respondent, or to the decedent, as contended by the petitioners. The point of difference between the opposing parties is whether the Realty Co. should be recognized here as a taxable entity. Petitioners assert that the Realty Co. was organized for the sole purpose of holding title to the decedent’s Florida real-estate to avoid the trouble and expense that would be involved in administration proceedings in the…
2Cases cited5 opinions
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- National Carbide Corp. v. CommissionerSupreme Court of the United States · 1949
- Burnet v. Commonwealth Improvement Co.Supreme Court of the United States · 1932
- Illinois Commerce Commission v. United StatesSupreme Court of the United States · 1934
- Glenn v. CommissionerUnited States Tax Court · 1944
3Cited by21 opinions
- Hopkins v. CommissionerUnited States Tax Court · 1950
- Herbert v. RiddellDistrict Court, S.D. California · 1952
- Love v. United StatesUnited States Court of Claims · 1951
- Bartell Hotel Co. v. CommissionerUnited States Tax Court · 1959
- Whitfield's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1951
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