Oak Woods Cemetery Ass'n v. Commissioner
United States Board of Tax Appeals
1. The basis of the land is deductible from the amount realized in determining the gain or loss from the sale of burial space in a cemetery. 2. In determining that basis, footage prices, at which comparable space was selling in such cemeteries at the basic date, are material but not conclusive evidence of the fair market value of the remaining space. 3. Such basis is determined here upon that and on other evidence in the record.
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1. The basis of the land is deductible from the amount realized in determining the gain or loss from the sale of burial space in a cemetery. 2. In determining that basis, footage prices, at which comparable space was selling in such cemeteries at the basic date, are material but not conclusive evidence of the fair market value of the remaining space. 3. Such basis is determined here upon that and on other evidence in the record. Mount Hope Cemetery Association,37 B.T.A. 671, followed.
1Opinion of the Court
THE OAK WOODS CEMETERY ASSOCIATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Oak Woods Cemetery Ass'n v. Commissioner
Docket Nos. 77321, 80932.
United States Board of Tax Appeals
38 B.T.A. 121; 1938 BTA LEXIS 909;
July 20, 1938, Promulgated
1. The basis of the land is deductible from the amount realized in determining the gain or loss from the sale of burial space in a cemetery.
2. In determining that basis, footage prices, at which comparable space was selling in such cemeteries at the basic date, are material but not conclusive evidence of the fair market value of the remaining…
2Cases cited23 opinions
- United States v. LudeySupreme Court of the United States · 1927
- Reinecke v. SpaldingSupreme Court of the United States · 1930
- Helvering v. Twin Bell Oil SyndicateSupreme Court of the United States · 1934
- Elmhurst Cemetery Co. of Joliet v. CommissionerSupreme Court of the United States · 1937
- Simpson v. United StatesSupreme Court of the United States · 1920
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