Barbour v. Commissioner
United States Board of Tax Appeals
1. Increase, due to delay in payment, in award paid to petitioner under Michigan law in condemnation of property of which she retained possession until payment, held, taxable as capital gain and not as interest. Estate of Edgar S Appleby,41 B.T.A. 18, followed. 2. Depreciation on condemned property between determination of value and relinquishment of possession held not allowable.
1Opinion of the Court
*1118OPINION.
Opper :
This proceeding involves a deficiency in income tax for the year 1937 in the amount of $816.11 and a claimed overpayment for the same year in the amount of $5,655.
Petitioner filed her income tax return for the year in question with the collector of internal revenue for the district of Michigan.
Two questions are presented: Whether a sum paid to petitioner as “interest” on a condemnation award is taxable as ordinary income, or as part of the capital gain from the condemnation, and whether petitioner, who retained possession of the condemned premises after the condemnation…
2Cases cited5 opinions
- Weiss v. WeinerSupreme Court of the United States · 1929
- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
- Campau v. City of DetroitMichigan Supreme Court · 1923
- Rosen v. City of DetroitMichigan Supreme Court · 1928
- Cleaver v. Board of EducationMichigan Supreme Court · 1933
3Cited by10 opinions
- Northwest Acceptance Corp. v. CommissionerUnited States Tax Court · 1972
- Ferreira v. CommissionerUnited States Tax Court · 1972
- Moses Lake Homes, Inc. v. CommissionerUnited States Tax Court · 1964
- Barbour v. CommissionerUnited States Board of Tax Appeals · 1941
- Ferreira v. CommissionerUnited States Tax Court · 1972
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