Legal Opinion
Guffey v. United States
District Court, D. Oregon
Decided September 14, 1963No. Civ. No. 62-61PublishedCited by 2 opinions
1Opinion of the Court
SOLOMON, Chief Judge.
Plaintiffs, taxpayers, filed an action to recover income taxes alleged to have been overpaid for the years 1954 through 1958 because the District Director of Internal Revenue had denied them a deduction for the loss sustained when a contract for deferred payments received upon the sale of their residence became worthless.
On July 7, 1948, plaintiffs purchased a house in Portland, Oregon, which they occupied as their residence until September 1, 1951. On August 15, 1951, plaintiffs entered into a contract for the sale of this house. Plaintiffs received $700 in cash and the…
2Cases cited3 opinions
- Bedell v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1929
- COMMISSIONER OF INTERNAL REVENUE v. GarberCourt of Appeals for the Ninth Circuit · 1931
- United States v. Zelma T. Kyle and Betty K. KyleCourt of Appeals for the Fourth Circuit · 1957
3Cited by2 opinions
- Patrick Guffey and Betty Guffey v. United StatesCourt of Appeals for the Ninth Circuit · 1964
- Corley v. CommissionerUnited States Tax Court · 1986