Massaglia v. Commissioner
United States Tax Court
1. Petitioner and her deceased husband had moved to New Mexico, a community property State, in 1916 from Colorado, a common law State, and had orally agreed that each should receive one-half of the profits of their business and that each would hold an equal one-half interest as tenant in common with the other in all properties purchased with the profits of the business.
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1. Petitioner and her deceased husband had moved to New Mexico, a community property State, in 1916 from Colorado, a common law State, and had orally agreed that each should receive one-half of the profits of their business and that each would hold an equal one-half interest as tenant in common with the other in all properties purchased with the profits of the business. In 1938, the Supreme Court of New Mexico, in statutory construction, held that husbands and wives could not transmute by agreement inter sese the character of community property. In 1943, petitioner and her husband reduced…
1Opinion of the Court
OPINION.
Black, Judge:
The first question here presented is whether, as petitioner contends, the petitioner’s interest in certain real property was, prior to the death of her husband, a community interest so that petitioner is entitled to employ the value of the property at the time of her husband’s death as her cost basis therefor; or whether, as respondent has determined, petitioner acquired one-half interest as tenant in common in the properties prior to the death of her husband with the result that her basis therefor is one-half the adjusted cost of the properties. Thus, petitioner claims…
2Cases cited37 opinions
- Erie Railroad v. TompkinsSupreme Court of the United States · 1938
- Burnet v. HarmelSupreme Court of the United States · 1932
- Great Northern Railway Co. v. Sunburst Oil & Refining Co.Supreme Court of the United States · 1932
- Morgan v. CommissionerSupreme Court of the United States · 1940
- R. H. Stearns Co. v. United StatesSupreme Court of the United States · 1934
32 more not listed; retrieve them via the Exa API.
3Cited by46 opinions
- Casey v. CommissionerUnited States Tax Court · 1962
- Norfolk Southern Corp. v. CommissionerUnited States Tax Court · 1995
- Rose v. CommissionerUnited States Tax Court · 1970
- Stevens Bros. Foundation, Inc. v. CommissionerUnited States Tax Court · 1962
- Laura Massaglia v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1961
41 more not listed; retrieve them via the Exa API.