Kaplan v. Commissioner
United States Tax Court
Held, that the fair market value of 57 items of personal property (principally used clothing and household furnishings) which petitioners contributed to a charitable organization in 1958, was $ 500 at the time contributed, rather than the larger amount of $ 5,550 which petitioners claimed. Certain appraisals rejected as being wholly unreliable.
1Opinion of the Court
Pierce, Judge:
Respondent determined a deficiency in the income tax of the petitioners for their taxable calendar year 1958 in the amount of $1,037.75.
The only issue for decision is the amount allowable to petitioners as a charitable deduction under section 170 of the 1954 Code, in respect of certain personal property contributed by them to a charitable organization in 1958. Decision of the issue hinges on what was the amount of the fair market value of such personalty at the times when it was contributed.
FINDINGS OF FACT
Some of the facts were stipulated. The stipulation of facts, together…
2Cases cited2 opinions
- Stollwerck Chocolate Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Hotel de France Co. v. CommissionerUnited States Board of Tax Appeals · 1924
3Cited by97 opinions
- McGuire v. CommissionerUnited States Tax Court · 1965
- David H. Orth and Barbara A. Orth v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1987
- Estate of Jung v. CommissionerUnited States Tax Court · 1993
- CTUW Hollingsworth v. CommissionerUnited States Tax Court · 1986
- Adams v. CommissionerUnited States Tax Court · 1978
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