Oregon Lumber Co. v. Commissioner
United States Tax Court
Exchanges of Like Kind -- Land for Standing Timber. -- Petitioner exchanged land for the right to cut and remove standing timber. Held, the exchange was not an exchange of property for property of a like kind within section 112 (b) (1), Internal Revenue Code.
1Opinion of the Court
OPINION.
Johnson, Judge:
Respondent has determined deficiencies in income and excess profits tax as follows:
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The only issue before us is whether conveyances of certain lands by petitioner to the United States in 1940 in exchange for rights to cut and remove specified quantities of national forest timber constituted exchanges of property for property of like kind within the meaning of section 112 (b) (1), Internal Revenue Code.
All other issues in the petition grow out of and will be controlled by the ultimate decision with respect to the “exchange” question.
All of the facts are…
2Cases cited5 opinions
- Coquille Mill & Tug Co. v. Robert Dollar Co.Oregon Supreme Court · 1929
- Reid v. KierOregon Supreme Court · 1944
- Goodnough Mercantile & Stock Co. v. GallowayDistrict Court, D. Oregon · 1909
- Elliott v. BloydOregon Supreme Court · 1902
- Sandy Holding Co. v. FerroOregon Supreme Court · 1933
3Cited by15 opinions
- Koch v. CommissionerUnited States Tax Court · 1978
- SMALLEY v. COMMISSIONER OF INTERNAL REVENUEUnited States Tax Court · 2001
- Wilson v. CommissionerUnited States Tax Court · 1956
- Peabody Natural Res. Co. v. Comm'rUnited States Tax Court · 2006
- M. H. S. Co. v. CommissionerUnited States Tax Court · 1976
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